Isola Bella is an isolated little island off the beach in Mazzaro. It can be accessed by a small strip of beach which disappears completely when the tide comes in. The island is truly magical and befits it's name. You'll notice steps leading up to ancient buildings, but the steps are blocked by a large rod-iron gate. Although you aren't supposed to do so, the gate is quite easy to climb over giving you access to explore this gem of an island.
Getting there from Taormina is quite easy. Take the Funiva on Via Pirandello. It will cost roughly 5000 lire round trip. Just make sure that you catch the last trip back up to Taormina or it will be a very long, dark hike up the mountain!