The Waboba ball, which is about the size of a golf ball, has taken off around the world after videos were posted on YouTube.
Made of a combination of plastics with a lycra coating, it is described as having the consistency of a breast implant.
The ball is about the same density as water and floats when at rest, but bounces high and true when thrown. It continues to bounce until it is caught or runs out of steam.
The ball took Swedish inventor Jan von Heland several years to perfect, but it is now being sold around the world after first taking off on the beaches of Australia.
"I first got the idea when I was throwing a frisbee upside down on the water trying to get it to bounce,” he said.
"I thought it would be good to get something that used the water to bounce off and began to experiment.”