Playing golf when the ponds are frozen over is a good idea. Usually no balls lost in the water. It is however hard to judge distance when the ball bounces 50 yards. It's kind of funny playing a par three over water. The green is rock hard so flying the green is not an option. What is even funnier is when someone tries to bounce one off the ice and the ball hits a soft spot and sinks.
All the above should only be tried when heavily fortified with alcoholic enhancements.