Yes, Peyto Lake in Banff National Park really is that blue. Many believe it is one of, if not the, most beautiful lakes in the world in large part because of that unique blue shade. The shade comes from the amount glacier rock sentiment that tumbles into it during the summer months.
There are several viewpoints – many of them heavily occupied by bus loads of tourists but there are also trails in the area which take you away from the people (for the most part). You see that is what makes Banff so popular is that you can take in all these incredible sites by really just stumbling out of your car. It really is unique in that aspect.
However, searching for some solitude, I hopped on one of those trails and hiked out to a cliff to take in this view which was shaded from most of the folks above me in the three or four fenced in overlooks. There was another hiker looking for some peace and quiet also and I decided to include him in this shot in order to give a better sense of scale to the image. By comparing his size with that of the surrounding environment you can see just how expanse it is.