Here is a great project since summer is just around the bend, although you could use this for ice fishing. Either way, this site has a great set of instructions on how to make a waterproof enclosure for your electronics.
This design will work with almost any camera, digital camera, or camcorder. It gives you access to all the camcorder’s features. You can either look through the bag into the viewfinder or use the LCD, although most LCDs aren’t any good in sunlight. I wanted mine for kitesurfing, but it’ll work underwater too. If it leaks you’ll be able to see water in the bottom of the bag or bubbles escaping and return to the surface before your camera is harmed.
DIY Waterproof Camera Enclosure – Link
Underwater macro photography & DIY macro photo round up – Link.
HOW TO – Make an underwater CVS camcorder – Link.