The goose and the frog are playing in the water and naming them.

Water elves, blue wave dancers, water fun time.

1. Water Elf: This name depicts geese and frogs playing in the water. Elves are often depicted as small, cute creatures, which is consistent with the images of geese and frogs. At the same time, the word "aquatic" emphasizes their activities in a watery environment.

2. Blue Wave Dancer: This name emphasizes the scene of geese and frogs dancing in the water. "Blue Waves" depicts the clear water, while "Dancer" expresses the image of them playing happily in the water.

3. Water Fun Time: This name directly expresses the fun of geese and frogs in the water. "Water fun" means water-related fun, while "time" emphasizes the duration and importance of this fun.