Cinque Terre is located in the North West portion of Italy on the Mediterranean Sea. It consists of 5 small towns and it is possible to hike between each of these. I personally hiked 3 out of the 5 and it was relatively difficult. You also have the option to take trains to and from each of the villages.
Cinque Terre is roughly a 2 hour drive from both Milan (to the North) and Florence (South East), so if you wanted to score one of the many cheap flights into Milan, it’s a quick jaunt from there.. Just a heads up, you probably don’t want to spend more than a day in Milan… In my opinion anyways : )