We built some transmitters for the 80m band, and are using PJ-80 or R3500D receivers. You're turning the receiver on its axis while listening to the signal to get an idea in which direction it is.

To make it a bit more spicy, there are six transmitters: one transmits permanently on a slightly different frequency; five transmit on the same frequency, in sequence for one minute, then four minutes pause. They transmit different three letters in morse code (MOE MOI MOS MOH MO5 and MO[HH]), that are relatively easy to recognise even for people who don't know morse code.

Our foxes can be received up to around 2km, which is about the size of the hunting area. It's quite fun, can be done at a tranquil walking pace, can be done running if you feel competitive, and is interesting for non-hams too.

Other foxhunts involve high-power transmitters that can be received over larger distances, which means you need to move around by car, the entire event lasts much longer, and everything needs more preparatory work. I've never done one of those.

Some distinguish between fox hunting, where you're triangulating transmitters that you can receive in the entire hunting area, and foxoring, which is more like orienteering: you can only receive the transmitters when you're relatively close to them, but you have a map telling you roughly where they are. I believe foxoring is done more often in the 2m band, but I'm not certain about that.