Gunsight Peak sits on a side ridge east of the main Lemhi Range crest in Idaho, the northernmost summit on a ridgeline that begins at U Mountain on the main crest and continues over Ray Lode Peak and an intermediate point. The peak's distinctive notch, visible from Highway 28, gives it its name.
The peak has been climbed as part of a ridge traverse beginning at U Mountain on the main Lemhi crest and continuing over Ray Lode Peak and an intermediate summit before reaching Gunsight Peak.