Ariel's Point is, by far, the best day trip from Boracay Island. That is, if you can manage to peel yourself off its beautiful beaches.
What you get:
A full day of Cliff Diving into the beautiful dark blue waters of the Philippine Sea. There are 4 levels to jump from. The highest is straight insane. However, I can confirm, a few of my fellow travelers braved it and survived.
The boat ride to Ariel's Point doubles as a booze cruise. Pace yourself though. When you get to the Point, you need to race off that boat, up some slippery rock stairs and through a cave to secure yourself a nice table next to one of the cliff's 3 bars. From there, you can drink up the courage to jump.
Booze Cruise, unlimited San Mig Lights, a BBQ Lunch Buffet (I was drunk at this point, but I believe the food was delicious), and all the cliff diving your heart can take.
Cost: P1500 ($38)
Tip: Book in advance and make this one of the first things you do in Boracay. You'll make friends that you'll want to hang with for the rest of your trip. We did!