The most common and most likely answer to this crossword clue is the 8 letter word DABBLING
I've seen this crossword clue in The Daily Telegraph
D
A
B
B
L
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G
More clues leading to the result DABBLING
Buddy explains!
The straight part
We know that "playing around in the water" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case playing around in the water = dabbling.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does DABBLING mean?
DABBLING verb- To make slightly wet or soiled by spattering or sprinkling a liquid (such as water, mud, or paint) on it; to bedabble.
- To cause splashing by moving a body part like a bill or limb in soft mud, water, etc., often playfully; to play in shallow water; to paddle.
- To participate or have an interest in an activity in a casual or superficial way.
- To interfere or meddle in; to tamper with.
- (gerund of dabble) An act in which something is dabbled in