Scuba divers look elsewhere, but this Pentax Optio 20 can get you some great-looking underwater bathing suit shots if the water is clear enough. You can take it to a depth of five feet for up to 30 minutes; no word on what happens at 31 minutes. Just don't drop it in deep water, because it doesn't float.
The W20's spec list looks fairly conventional, although its pixel count has been raised to 7 megapixels from its Optio W10 predecessor's 6 megapixels, but it still has that 2.5-inch viewfinder and face recognition autofocus. Look for it to ship in September for around $300.
Pentax Optio W20 [ Digital Photography Blog]