Abstract: A water fowl decoy has an outer buoyant layer molded around an inner buoyant core material contained within the outer shell. The outer shell has a bottom opening for receiving a removable keel. The opening has front and rear walls with at least one indentation. The keel has a front edge and a rear edge with at least one detent which matingly engages the corresponding indentations on the front and/or side walls of the opening in the outer shell.