The small Podkówka lake, called also Kopytko or Siginek, is located in the northern part of Olsztyn, near the left bank of the Łyna. It is called Podkówka due to its shape (podkówka – small horseshoe) which results from the peninsula, covered with forest, that cuts into the lake from the south. The lake's surface amounts to approximately 6 ha. It is a closed, shallow reservoir, with a maximum depth of 6 m.
Podkówka is surrounded by a green belt of trees, behind which are located buildings of the Redykajny residential area to the north, and woodlands to the south. About a kilometer from the lake was established the Redykajny moor nature reserve.
The shore of the lake is difficult to reach because of the growing vegetation and the wetland area which extends around the lake. This is why Podkówka cannot be included as a bathing lake. However, it is very popular among anglers, who fish there for pike, bream, perch, roach and crucian carp.