Rent a bike from the Viewpoint Lodge in Nyaung Shwe, which will cost $6. Peddle west (away from town) along the unpaved, bumpy road. Take a left at the T-junction and head south, the mountains on your right.
You'll reach the hot springs in approximately 5 miles, where the water is piped into a series of swimming pools. You can soak there in a gender-mixed pool or sex-segregated one.
Continue pedaling south to the Intha village of Kaung Daing for lunch
After lunch, grab a touts you have passed on the road and hire a boat to ferry you and your bike across the lake for $5.
Deposited on the east side of Inle Lake, continue cycling north through sugar cane plantations and small villages.
As you near the north side of the lake you will see Red Mountain Winery; head up the hill for a magnificent view the lake and vineyards as well as a tasting of the local wine.
Continue around the north side of the lake, through Nyaung Shwe, and back to the hotel.
The excursion will take approximately 4 hours.
Myanmar trip report: http://bit.ly/1aTq3vK