When looking at the map I decided the west side of the lake needed a few caches. This cache is designed to be accessed via the water,
Clear Lake has two main bodies connected by a bottleneck. The lake is primarily fed by snow runoff from nearby Mount Washington and the surrounding areas. The runoff filters through caverns for more than 20 years before emptying into Clear Lake. The lake is also fed by two small creeks, which may dry up seasonally, along with Great Spring, the source of the McKenzie River.
Clear Lake is the headwaters of the McKenzie River, which is the sole source of drinking water for Eugene.
You are looking for a hanging object that is not at all camouflaged.