Both are in stock at Costco and should be popular with Mrs.Santa's everywhere
Sanyo Xacti VPC-E1 (top)
Ideal for active families, vacationers and water sports enthusiasts, the ultra-compact E1 can record high-quality video and 6-megapixel stills under water to a depth of five feet for up to one hour at a time.
That side panel is a large swing-out LCD screen for easy viewing above or below surface.
$319 - $399 on line
Olympus Stylus 1030 SW (bottom)
10.1 MP 2.7" LCD 3.6x Optical 5x Digital