http://www.erowid.org/chemicals/lsd/lsd.shtml is a good resource with lots of organized information. You should read some trip reports on erowid and here on the bluelight trip report forums.
If you have never taken lsd before, don't mix it with another drug, especially mdma, which can intensify the effects of lsd.
I assume that you have never taken any kind of a psychedelic before given your question about the effects. The psychedelics are misunderstood and there are probably more myths and misconceptions about lsd than any other drug. No, lsd will not make you see unicorns and flying pink elephants. It will not make you think you are a glass of orange juice. It won't make you jump out of a window because you think you can fly. These are things that are classified as "true hallucinations" that may be indistinguishable from reality. Lsd and other psychedelics produce visual effects that are "pseudo-hallucinations". When you see a visual effect while on lsd, you know that it is from the drugs and isn't real.
Lsd will intensify colors, and make you see patterns in textured surfaces. You will see colorful patterns of light in your visual field. Somewhat like looking through a detailed stained glass window, but not quite that much color. Objects may morph slightly. With your eyes closed, you will see moving patterns, shapes, colors. In higher doses, these become 3-dimensional and extremely detailed and you may recognize patterns within the patterns. (bodies, faces, buildings, objects, artworks, etc.)
While people may think of lsd as a visual drug that simply "makes you see stuff", this is not really the case. Yes, the visuals are an important component and can be extremely intense, but the mental part of the trip is just as important if not more important. Some psychedelic drugs are mainly visual, but lsd has profound mental effects. While the visuals can be explained reasonably well, the headspace is difficult, or perhaps impossible to describe. You may feel unusual emotions, think about things in from different perspectives, or experience a different relation to the outside world. These effects must be experienced to be understood.
Read here for more:
http://en.wikipedia.org/wiki/Psychedelic_experience
If you decide to take lsd, make sure that you are in a good mood and have no responsibilities for the next 24 hours or so. Take it in a familiar, positive environment. These two factors, set and setting, are the most important determinants in if you have a good trip or not. If you take lsd when you are depressed or anxious, these feelings will be amplified and the result could be unpleasant. If you take them in a positive mood with close friends in a comfortable environment, the trip can be wonderful.
Also, you should have a sober sitter to watch you when you take the drug for the first time. Start with a low dose at first. The effects should first kick in about 45 after first dosing and reach a peak by the 90 minute mark. The effects will plateau at this level for around 4-6 hours and then gradually decline over the next 2-6 hours. You should be down by 12 hours and completely sober by 16-18 hours. Dose will obviously affect this somewhat. The timeline I described is typical of a 100 microgram dose for me.