In June (Feast of Corpus Christi, the Thursday 60 days after Easter), there is the famous Stocherkahnrennen (punt boat race) in which more than 40 punting boats race along the river, trying not to come in last, as each crew member of the last boat has to drink half a litre of sun-warmed cod-liver oil. Traditionally, most of Tübingen's student fraternities participate in the race, but also private crews are allowed.
The old city centre full of crooked half-timbered houses, small alleys, cobblestone roadwork and some nice old churches.
The river Neckar next to the city centre, on which the students go punting (similar to what they do in Oxford or Cambridge in summer time, occasionally with a barbecue and a crate of beer on board.
The Schloss, or castle, can be a fun place to wander around. Look at the intricately carved gate at the entrance. Skip most of the centre courtyard and head up the stairs on the back side of the courtyard. This leads to a beautiful garden/courtyard, with some beautiful views from atop the wall to the left. Alternatively, go through the tunnel on the backside of the main courtyard that will take you through the backside of the castle, a much more medieval and beautiful part of the Schloss. At certain times, there are archers shooting in the eastern moat (the "Hasengraben") of the castle. From back here there is a path that will take you along the wall of the castle and through the woods, ending up on Haaggasse very near the Marktplatz.
Hölderlinturm
Stadtmuseum
A small modern art museum on one of the hills.