Polaroid recently introduced a line of waterproof cameras, one of which -- the Polaroid XS7 -- carries a low MSRP of $69. (Compare Prices)
The XS7 will work in water depths up to 10 meters (about 33 feet). However, most of its other features are squarely aimed at beginners or even children, such as its 5MP maximum resolution.
Surprisingly, the XS7 can shoot 720p HD video and it offers a 2-inch touch-screen LCD, which is pretty good in this price range.
Photo courtesy Polaroid