Abstract: A floating fountain apparatus includes a buoyant annular float having a central opening. A pump is secured to a lower side of the float. The pump has a propeller positioned to direct water through the central opening. A pump housing is positioned to receive water flow from the propeller and direct the water flow to a nozzle outlet. A lighting assembly is positioned within the central opening. The pump housing includes an upper pump housing and a lower pump housing. The lower pump housing has a water inlet and a hollow cylindrical outlet. The upper pump housing is slidably received within the cylindrical outlet and has a flow diverting surface to direct flow against an inner surface of the cylindrical outlet to create an annular flow of water. A plurality of vanes extends between the outer and inner members to divide a spacing between the members into a plurality of individual fluid flow pathways.