A slang for sucker. Directly translated from the Cantonese slang for sucker "sui yu", which "sui" is the word for water and "yu" is the word for fish, hence "waterfish".
That waterfish just got conned all his cash.
by Manjix May 17, 2016
Get the waterfish mug.
Closely related to the Coney Island Whitefish, the Waterfish is a used condom seen swaying in the current under the water, not washed up on the beach. It resembles a jellyfish.

They are often found within swimming distance of the beach at a honeymoon resort.
So dude I was snorkeling and the only damn fish I could find were Coney Island Waterfish.......
by Tha_J-Wizzle September 9, 2010
Get the Coney Island Waterfish mug.