The unspoilt Uruguayan peninsula of Punta del Este is all paradisaical oceanic beaches, exotic sophistication, beautiful people and an ardent night scene. It's the Monaco of South America.
Regular buses come back and forth from Montevideo regularly, making Punta del Este a convenient day trip (two hours by bus, see the timetable [http://www.cot.com.uy/horarios_pde1.htm]). If you accidentally get off the bus at Moldonado Terminal which is a few kilometers north of Punta del Este you can easily catch a local bus(marked "Punta del Este" in top front) at the stop just behind the bus terminal for 14 Uruguayan Pesos(US$.60) which you pay to the driver.
If you are in Buenos Aires, you can take a short direct flight (less than 1 hour) to Punta del Este. Alternatively, you can take the ferry (about 3 hours) from Buenos Aires to Montevideo. Montevideo is approximately one hour (by car) away from the Peninsula of Punta del Este.
The bulk of Punta del Este is on a peninsula jutting into the ocean. The perimeter of this peninsula can easily be transversed by foot.
To get to La Barra o Jose Ignacio you better have a means of transport like a car (renting a car is always going to be the best way to visit all the places). Buses are not very frequent and public transport like taxis is mainly to be called over the phone (very expensive compared to the rest of Uruguay standards). Hitchhiking is common for young people since night clubs are far from each other and people may be staying in far away places from the clubs. If you have a car, be kind; pick up someone (speacially at morning, after the club). Remember that Punta del Este is very safe, but normal precautions should always be taken.
You can rent a moped(scooter) for US$10/hour or US$45/day at several places.
The beautiful sunsets in the port of Punta del Este, La Barra or Jose Ignacio are other spots not too far away (by car), from Punta del Este itself. Go to the beaches, being a peninsula you have two coastlines, one of them is pretty quiet and calm (called "mansa"), and the other one is windy, with some surf spots (called "brava"). Famous beaches includes: "La playa de los Dedos" (The finger beach"), which is near the main street in Punta del Este, close to a surf spot, and it has a giant hand emerging from the sand. In La Barra the Bikini Beach is famous because of the models and famous people that goes there. The endless beaches, beautiful seaside mansions, tree-lined streets, chic boutiques, stylish people.
Casa-Pueblo is a beautiful ciudadela-museum near Punta del Este. It was created by uruguayan artist Paez-Vilaro in a kind of mediterranean surrealistic architecture. He is the father of one of the survivors of the infamous plane crash on the Andes.
Punta del Este is a very important tourist port. The upper crust has its yachts there and if you want to rent a boat, this is the place to ask.
Tanning is a popular activity on Punta del Este's famous beaches. You can choose from beaches on the calm side of the peninsula or on the other, windier side. Punta del Este has some good surfing spots, not as good as La Paloma (150km up to the north of Punta del Este), but it gets pretty decent in good days. You can rent sea bikes.
Punta del Este has an island nearby, it is protected because of its nature (no great buildings or anything like that), but it can be visited and there are excursions to it. Renting a boat is also nice in good weather. Isla de Lobos is another island that is also protected because of its sea lion population.
Local and imported wines (specially Argentinian and european vineyards). There's a famous drink in all Uruguay called "medio y medio" (half and half) which is a sweet mix of grappa and other beverages.
Punta del Este is famous for its clubbing scene. Most parties start very late, between midnight and 3am and end around dawn. You cannot name a specific club because it's probably going to change its name or its location the next year. Don't worry, they do good marketing, so you will find out very easily.
Every year the night life changes, so you never know which is going to be place that will hit the summer in Punta del Este. Most of the clubs are away from the peninsula of Punta del Este, mainly in La Barra. But the fashion places changes, it depends on the year.
You can expect high prices for club entries in late december and early January, and specially in the weekends. After the 15 of January the prices go down (this includes most of the things), and altought they may be still a lot of people in Punta del Este, is not going to be as crowded. Anyway, expect a lot of movement in the clubs at weekends.
Book ahead between Christmas and carnival, when most every bed is taken. Staying in the peninsula of Punta del Este is probably the best option if you don't have a car, as buses are few, and cabs are expensive. Keep in mind that beds here are among the most costly on the continent.
Nearby beach towns in Uruguay make for convenient day trips or nice overnight escapes from the crowds of Punta.