Good use of props (bubbles), but I hope you realise there's a big difference between bubbles that rise to the surface in water and soap bubbles that float in the air. ;-)
I like the faux-underwater effect.I might have given it another point if there were no water drops on the ducky (wouldn't happen underwater) or if the bottom wasn't reflective. maybe covered with sand?
I love the background and how well it plays into the theme of your ducky. The 'waves' really strengthen the composition of water play and the dress of this snorkeling ducky. All the elements are there but there are some things that need improvement for this composition to move out of the average shot and into the above average. First lighting, lighting seems to be a little flat and uneven. The front half of the ducky is illuminated such that a gleam appears on his wetsuit while the back side half of the ducky falls too much in shadow. Two lights one situated off to the right & back abit and the other one situated off to the left & in front might help with creating more even lighting. You might also try some outdoor lighting to see which would give better results - but not during the harsh hours of the day (generally 12 noon to 3 p.m.) when the light is too strong that the color tones tend to get washed out. Better lighting would also improve the visibility of the bubbles as well. Lastly, cropping/close composition can sometimes go a long way in making an image visually appealing and eye-popping. I think that the visual appeal would greatly improve if you cropped closer such that there is more focus on the duck. The rubber ducky is your main subject and should be the focus of the main attention. I think that there is a tad too much background up at the top. Cropping the top 1/3 off would help keep focus tightly on the duck AND you would still have that wonderful background & the bubbles to project the imagery of water play.