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water goat 

Water goats have two eyes and four pairs of arms and, like other cephalopods, they are bilaterally symmetric.
water goat by wuad June 1, 2013

water goat 

a. a dolphin that sounds like a goat. (aka water goat)
b. a person trying to sound like a dolphin, then ends up sounding like a goat.
c. a very cute cat/ cuddly animal nick named water goat.
a."ehehehehehe ehhhhh"
"dude, you sound like a freakin' water goat."
"eheh?"
"im done talking to you."

b."eheheheheheh!"
"ooh! how cute a dolphin!, but it sounds like a goat... its a water goat!"
water goat by suae January 11, 2009

Whatever floats your waterlogged goat. 

Used instead of whatever floats your boat, whatever floats your goat, and whatever floats your waterlogged boat". A goat totally can't float, because it's waterlogged. See?
Joe: I'm gonna do an internet!
Pete: Whatever floats your waterlogged goat...
Joe: What the actual fuck?