The basalt (volcanic rock) Barrier wall rising above Rubble Creek and holding back the waters of Garibaldi Lake blocked the Cheakamus River and created Daisy Lake after its most recent rock slide in 1855. B.C. Hydro built the Daisy Lake dam at the very south end of the lake and had it operational in 1957, using Daisy Lake as an operating reservoir for water leveling in the area. Daisy Lake is within the Garibaldi Barrier Hazard Zone (a civil defense zone), and considered closed to organized recreational activity. Signs outlining the hazard zone are posted in and around the area, and along the highway. The Barrier itself stands at an elevation of 1,500m (4,920 ft). Daisy Lake is below the Barrier at an elevation of 400m (1,310ft).

Daisy Lake can be found south of Whistler past Brandywine Falls or north of the Garibaldi Black Tusk turnoff on Hwy 99. The lake and dam can be seen from the highway. Access to Daisy Lake is limited; there are no direct entrances. Parking at Brandywine Falls or at the Garibaldi Black Tusk parking lot is best advised if hiking in. There are no beaten paths, so previous hiking experience is recommended. Designated camping facilities are available at both Brandywine and Garibaldi provincial park areas.

If tracking into Daisy Lake from Branywine Falls, hiking down through the gorge is a must. If tracking in from the south side of the lake, there is the old Vancouver to Whistler road (first opened in 1965; now closed) that runs along the east side of the lake. There is also, on the east side, a secluded Buddhist retreat called the Sea-to-Sky Retreat Centre. If interested in fishing, Daisy Lake is known to have Rainbow trout, Kokanee, and Dolly Varden. All hiking in and around Daisy Lake should be considered untrodden.

There are a number of creeks that flow into Daisy Lake. Brandywine Creek flows over Brandywine Falls, into the gorge, and then out into Daisy Lake. This water flow can be seen from the Brandywine Falls lookout. As well, Marble Creek, Perticoat Creek, and Roe Creek flow into the lake. Due to the rock slide in 1855, the Cheakamus River flows into Daisy Lake at one end, and from the dam approximately half of the lakes water continues back into the Cheakamus River at the other end, with the balance of the lake running into Shadow Lake from the southwest side.

The Sea to Sky Bicycle and Hiking Trail between Whistler and Squamish travels along the west side of Daisy Lake; west of Hwy 99. The trail here is considered a doubletrack for cyclists, hikers, runners, and horses. If coming from the south, turn off the highway at Chance Creek Forest Service Road (FSR) keeping right after the bridge and rail tracks. Trains pass often – take caution. If coming from the north, turn off the highway at Pinecrest Estates taking the old logging road to the left.

The former settlement of Garibaldi was just south of Daisy Lake. In 1980 the provincial government issued an Order of Council to relocate all residents from the town of Garibaldi because of the potential landslide threat from the Barrier. The old Garibaldi road is still visible from the highway near opposite the Garibaldi Black Tusk turnoff. It is marked with an orange metal gate. To this day, there is still great unrest due to such government decision.