Abstract: This invention resides in improvements in a toy and particularly in a toy which may, in use, cyclically rise and sink in water due to the change of buoyancy caused by bubbles formed in a lower internal chamber in which moistened baking powder or the like may be placed. An upper section of the toy is fitted with one or more hollow tubular sections that serve to suspend the toy in a generally erect position when initially fully immersed in water and which tubular sections serve as a pivot about which the toy oscillates as it rises and sinks. The tubular sections are generally formed with a hollow interior section that communicates to an open mouth section of a size to retain air within the interior when the object is immersed in water. The toy may be employed out of the water to slide down an inclined ramp as formed bubbles momentarily lift the toy off an inclined surface of the ramp.