Newport is about 45 minutes to an hour away. This would be a great place to spend an extra day or two. Check out the Pier, the beach and there are a bunch of great restaurants.
Another great beach area to check out while you are in town. Laguna is about 45 minutes to an hour away. This is a great beach to hang out on and lots of cute shopping.
If you are coming all the way to Southern California, Disneyland is always a great option. You need to buy tickets ahead of time and make your "day" reservation online
Again, this about 45 minutes to an hour away depending on traffic.
Balboa is an adorable area to visit. There is tons of great shopping on the Island and its about 15 minutes from Newport. I'd recommend visiting both locations.