The fairy chimneys of Paşabağı Valley are some of the most picturesque in the area. Keep a look out for the particularly impressive three-chimneyed examples, some of which were hollowed out in the early Christian period and used as churches. Although these contain some excellent frescoes, they remain off-limits while preservation work is underway.
Paşabağı is on the typical Cappadocia tour route and gets crammed with tour buses from around 10am, so if you want to miss the crowds try to get here first thing in the morning.