the water shader fits perfectly,the characters are nicely done(a bit clay-like) and it gave me a good laugh. some fog would indeed add to the quality, but thats just my opinion.
not to sound mean but i agree with the guy below me and also Charizards do die is submerged in water
wait a sec...
Doesn't a charizard die if it's tail is submerged in water? Besides that, this is pretty good digital work, the water looks really good. You should add more steam/fog if you wanted to go for the spa effect. Also, not to sound mean, but your white dragon kind of looks more like a goat. Maybe it's because you can only see the head defined, but maybe try adding some scales to make it more dragon-like.