Although Toronto has an efficient subway system, walking in the downtown Toronto and its neighboring towns is a must.
If you are staying in a downtown hotel, I am pretty sure you will be doing a lot of walking. This way you will be able to see the details of the city. Moreover, it will be convenient for you to walk from one attraction to another. You can tour the city by going to the parks, shopping malls, cinema, festivals, nightclubs, and the entertainment district.
If you are going to the suburb, then you will have to use either the subway train, buses, streetcars and taxis. I use to see ricksaw a year ago in Toronto, but I am not sure if they still exist or still in operation. Other than this, keep on walking!
Favorite thing: Bloor Street is the street of fashionable stores and many people walking on business or just for pleasure.