A short drive out of the Southern Highlands, you can visit Fitzroy Falls, which has a Visitors' Centre. There you can ask for a map and information about the walks available in the area and how long they take.
Along the walk, you get great views of the Fitzroy Falls, which are several waterfalls along a cliff edge. The one at the beginning is the most impressive and goes down a great height. The West Rim walk gives you the best view of the waterfalls. It is quite safe, with barriers.
In winter, this place is really really cold so make sure to rug up. This is good for those looking for an easy walk with waterfall views. There is no fee, except for covering the parking fee at the Visitors' Centre.