Ringstrasse is the street where most of the culturally important landmarks and tourist sites are located. I recommend hopping on a tram/bus and taking it all the way around this circular boulevard so you get a sense of where everything is located in relation to each other, as well as to get a feel for the city. It's a main street, so it is extremely busy with both vehicular and pedestrian traffic.
It was built on what was once the old city walls, hence it being a ring (same word in German). Hubs and I took the tram around it AND walked most of it, just to get up close and personal with some of the buildings, like the Parliament and City Hall. The best shopping and restaurants are inside the ring, the Innere Stadt, but you can find a few decent place on the outskirts.
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