So first save this image

Next size the image down to where its about 560px wide and create a new canvas that has that same width and a height of double what it is. My canvas size is 565X848px.

Next duplicate your image

Move your newly duplicated image to the bottom of the canvas and rotate it 180 degrees.

Then flip it horizontally

Create a new layer below that one

Hold down control on your keyboard and click on the little icon beside your duplicated layer so it creates a selection around it.

Fill the new layer with light to mid blue color

Click on your screen to get rid of the selection and choose your copied layer. Then grab your gradient tool from your tools palette. Make sure its linear and pick black to transparent

Add a layer mask to that layer by either clicking the little picture icon at the bottom of your layers palette or go to layer>>layer mask>>reveal all

Take your gradient tool and drag from the bottom up to reveal the bluish background we made.

Next we will make the water so create another new layer above the one we just used the gradient tool on

Use the control and clicking technique on the blue background to highlight around
the area.

Now in the new layer add clouds by going to filter>>render>>clouds

Now go to filter>>artistic>>plastic wrap

Use these settings

Now go to filter>>sketch>>chrome

Use these settings:

After that set the layer to overlay

Next select all the 3 layers of our water

Use control+t to transform the layers then right click on the canvas and click perspective

Grab the bottom right of that and drag to your right so change its perspective until you get your desired result.

Now to add a couple fish in the water. Grab this picture of a fish I got from
http://www.sxc.hu/index.phtml

Cut your fish out and place your fish in the water and size it down how you want

Create a new layer, grab your brush tool and set it to scatter. Use some white and blue colors to make the fish look like its coming out of the water.

Add some more fish and you should be done