The few limited interesting parts of town are definitely walkable.
Jinghong has plenty of tuk-tuks or auto-ricksaws about. Hire these as a slightly cheaper way to get between places, but more than a kilometer or two and your butt might be sore all day.
Taxis run about ¥5-15 to places in town.
Down by the Nancang it may be possible to hire a boat for a bit of river cruising.
