Water hyacinth is the most recognizable and controversial floater. It produces a beautiful fleshy green plant about the size of a softball. It floats because the stems contain large bubble-like fleshy structures that act like pontoons. Plants bloom in lovely lavender-colored flowers on short, 6-inch spikes that last for only one day.
Water hyacinth rarely goes by its Greek name, Eichhornia crassipes. It's native to Brazil but has been spread all over the world, primarily as experimental livestock fodder. You are as likely to find it in the Zambezi River in Africa as you are in the wetlands of Florida. It has become a truly international plant in climates lacking a cold winter--and has become an international problem as well.
Hyacinth trails a very long network of roots that dangle up to a foot deep, shaped like an inverted, leafless Christmas tree. These fine roots extract nitrogen from the water. This has made it an important component in water-garden ecology to naturally reduce undesirably high nitrogen levels in the water.
Algae bloom is responsible for thousands of garden ponds' turning to green pea soup as soon as temperatures soar in early summer. Algae requires nitrogen to reproduce so prodigiously. Nitrogen buildup in the water is often due to pond fish excreta and decaying organic matter from aquatic plants. You can balance the nitrogen by adding hyacinth to the water garden as soon as the nights warm up enough to prevent cold damage.
Aside from their practical value, what makes floaters so cool in water gardens is that they move around. A group of them will continuously change position, while potted water plants such as iris or lilies remain in about the same place. If you have fish, they are always nibbling on the pendulous roots, and in the process push the floaters across the pool.
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