The longest trail in Kodachrome Basin State Park, the Panorama Trail is really worth the effort to complete. It is a loop that can be done in 3 miles if all of the shortest routes are taken, but the real highlights of the trail are on the side segments. If all these are taken, the trail is about 6 miles long. There is very little elevation gain, though, and the full trail is really worth the effort.
Starting from the same parking lot as the Grand Parade Trail, the trailhead is across the road and heads west. There are several junctions on this trail, and it can get a bit confusing to follow. The best route is to go counter-clockwise because the trail markings all assume this is the direction of travel and face the correct way. Going counter-clockwise, the long form of this trail generally takes the right fork at all junctions, and if this is followed, the trail will eventually reach back to the trailhead.
The first major junction is approximately a third of a mile from the trailhead. Go right here and head north following along the red hills on your right. The Hat Shop is the first named feature reached, but it is not that impressive, just an assemblage of columns and rocks not much different from the rest of the basin topography. Past this area, the trail winds to the west following the line of red cliffs to the turnoff for the Secret Passage. This trail is really worth taking as it winds around some interesting rock formations and through a cool slickrock passageway. Just past the Secret Passage there is an unmarked "T" junction. Go left to continue the shorter loop, or go right on a 1-mile loop to the Cool Cave. This isn't really a cave, but is a very convoluted slot canyon that goes deep into the cliffs--very worth visiting. Continuing or backtracking on the Cool Cave Loop winds back to the "T" junction, and the trail continues south to the side trail to Panorama Point. This side trail is also very worthwhile for the 360-degree views at the end. From Panorama Point, the trail heads almost due east back to the trailhead.
This trail is particularly beautiful from late afternoon through sunset. The mountains to the west are distant, so the setting sun shines right on the red cliffs of Kodachrome. It would also be great at sunrise when the sun lights up the pink cliffs of Bryce Canyon in the distance. Both of these times should be less-traveled as well. This trail is a highlight of the park and should be on any visitor's list if they can manage the distance.