The Water Doragon is has a lizard-like form. The user who owns it can control some of the physic properties of water making possible to walk on water. It can also increase the water magnetism to itself making a powerful magnet or a nice adjustable armor.
Ironically, one of the Water Doragon weakness is to BE INSIDE water. This is due to the fact that none of the abilities mentioned above could help getting the user out of the water.