Favorite thing: On foot, you can explore the nooks and crannies of Zhujiajiao. Some of the streets (as marked on the helpful English-Chinese map you'll get at admission) are more touristy, but there're also locals living in the rest of the houses. Wander off the tourist trail and you can catch glimpses of local life in the water village.
Favorite thing: Zhujiajiao is the nearest water village to downtown Shanghai. As the name implies, this is a water village, so who could miss out on the lovely canal scenery?