The Grand Tetons, still to this day, are my favorite mountain range in the US. They're so jagged and striking you see where they got their name. It's great to enjoy them from this quaint little mountain town. Yeah, it's gotten really touristy over the years and has attracted some famous residents (Harrison Ford, Uma Thurman, to name a few) but it's worth at least a brief visit if for no other reason than to look at the Tetons.
Actually this should be Jackson, WY. Jackson Hole is the whole valley from south of Jackson to the entrance to Yellowstone. Jackson is a great town to visit. Has a wonderful Coldwater Creek Bargain Basement. See the shoot out at 6pm every night. There are wonderful festivals that happen in this town. Drive 2 minutes north and you are driving by the Elk Preserve which is definitely a must see. The Art Museum on the west side of the road is beautiful. Great western art.