Gypsy Lake covers 15 acres with a maximum depth of 18 feet with 99% littoral area. Much of the east shore of the lake is bog the water is brown and bog-stained. The public access is a 600 foot carry-in trail that leads down a steep slope on the north shore of the lake. A Designated Stream Trout Lake sign is posted at the start of the trail where there is a bump-out in the road for two vehicles on U. S. Forest Service Road #424 (Denley Lake Road).
The 2013 population assessment sampled Brook Trout in above average numbers; however, over 90% of the fish sampled were age-1 stocked the previous fall. The average size of the Brook Trout sampled was 7.5 inches (0.25 pound). The two age-2 Brook Trout sampled in 2013 averaged 13.0 inches, about one pound each.
Gypsy Lake has a history of low dissolved oxygen levels in the lower reaches of the lake. Anglers fishing, summer and winter, may want to try fishing the upper ten feet of lake and continue fishing shallower if the angling is slow.