Indeed, everytime I go down to Cannon Beach (inlaws have a place there)we usually sneak down there too. The rock all around there is crap though I suppose you could find something to boulder on on the beach or go on that hike up the hill just north of there. Best spend your time looking for that fabled lost treasure near there or rent a surfboard and suit and go up to short sands.
The little store there stocks Terminal Gravity IPA, if you're into that sort of thing.