An aquatic fun toy for an aquatic game including a buoyant body having an upper and a lower surface and a receiving portion communicating through the upper and lower surface, an underwater member receivable in the receiving portion and a plurality of supporting portions for supporting the buoyant body at a predetermined height above a bottom of water. A first engaging portion formed on the receiving portion and second engaging portion formed on the underwater member is engageable and disengageable with the first engaging portion. In use, the buoyant body engages the underwater member and sinks in water such that the supporting portions keep the buoyant body at a predetermined height above the bottom of the water, and when the underwater member is separated from the buoyant body, said buoyant body floats to the surface of the water and the underwater member remains immersed.