We also started geocaching with my new Christmas present (a GPS) We have found one, went looking for two more but didn't find them. It's high tech treasure hunting!
Do you see the small little round silver cylinder? That's the treasure! This one just had a small log book hidden in a film canister.
We signed the book and returned it to it's "hiding place". I look forward to doing alot more of these. They're alot of fun! If you're interested, there is a website http://www.geocaching.com/ that keeps track of all the geocaching treasures. We live in a small town and we have over 150 here!