The tiny little island of Vulcan Point in the Philippines is the world’s largest island within a lake (Crater Lake) that is situated on an island (Volcano Island, or Taal Island) located in a lake (Lake Taal) within an island (Luzon). It also happens to be one of the cones of the active Taal Volcano, so Vulcan Point is also the world’s largest volcano in a lake (Main Crater Lake) on a volcano (Taal Volcano). Crater Lake also happens to be the largest lake on an island (Volcano Island) in a lake (Lake Taal) on an island (Luzon). Interesting piece of land indeed.
UPDATE: The Taal Volcano has just erupted. Let’s hope the island stays there. We would really miss it.