Toronto to Niagara Falls isn't super far - about an hour to an hour and a half drive depending on how fast you drive.
Since it looks like you're going to be right downtown, there should be several options for taking a bus or tourline down to Niagara -- i'll see if i can find you some links
Edit #1 --
Greyhound Bus Lines from the Bay Street Terminal (a bit of a walk, or a short subway trip) - about $46 CAD roundtrip
http://themegacity.com/transportation/via_greyhound.htm
An Actual tour of Niagara on a bus - Niagara Falls Bus Tours - $88 CAD and up roundtrip depending on the tour type
http://www.torontotours.net/tours/to...cfm?ttid2=1006
You could also take the VIA train right from downtown TO to Niagara - about $44 CAD roundtrip (heres the rates and schedule for that)
http://www.infoniagara.com/transport...ips/train.html
I'd recommend bypassing the tour thing, and doing your own trip. If you wanted a good trip package, the Great Gorge Tours is a good package -
http://www.niagaraparks.com/nfgg/discountpass.php
since you get the Journey Behind the Falls, Maid of the Mist boat ride, White Water Walk and the Butterfly Conservatory -- and since you're taking a bus, this pass includes the 'Ride all day' pass for the People Mover buses and Falls Incline Railway. That tour is about $40, but it saves you good money on doing all the tourist like things while you're there.
Edit #2 --
Also, If you're into shopping, check out the stretch of shops along Queen Street west of Younge Street, Younge street has some good shops around the Eaton Center. Theres also the general touristy things to do in Toronto, like the CN Tower (and there a brewery tour very cheap right beside it for SteamWhistle if you want to learn how beer is brewed, 19+).
Don't know how long you're up here for, but if you want more links or ideas for things to do outside of the Anime Convention (haven't been to one of those in a while *lol*), just let me know and i'll dig up some more stuffs
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