There are actually three loops you can ride here. The North loop, South loop and riding the trail along the perimeter of the park you can do the outer loop which is a combination of the previous loops. The main trails are wide and have no technical merit to them at all. There are some unmarked singletrack trails off to the side, but they don't appear to be "official" trails so I'm not sure if its legal to ride them. Some small hills on the Sothern loop with a couple very nice views of Pike's Peak still make this a fun ride. Nice place for a family ride. Do watch out for horses and hikers. Great place in the Winter for cross country skiing.
Located at the Northern edge of Colorado Springs. Take the Baptist Road exit, East from I-25. Drive north a couple miles to the T-intersection and take a right on Roller Coaster road. There will be a parking area a couple hundred yards down the road, to the right.
http://www.singletracks.com/item.php?c=1&i=1369