A water-resistant and floatable footwear including an outsole and insole, and an upper member affixed to the sole, wherein the footwear is floatable in water. In particular, the insole of the footwear is constructed of the material "marine buoy;" that is, the insole has an inner structure and an outer coating, the inner structure being constructed of a thermoplastic resin and the outer coating being constructed of a vinyl polymer. The footwear is advantageously water-proof and provides buoyancy in water.