1. A drinking glass or a goblet.
  2. A box or a tube with a transparent bottom used for clear observation of things below the surface of a water.
  3. A sodium silicate; a water-soluble silicate compound.
  4. A clepsydra; a water clock.
Paraphrased from: American Heritage Dictionary

Making a cheap, home-made water glass (cf. hydroscope) is a no-brainer: simply replace the bottom of a milk carton with a saran wrap, and tape it down with masking tape. Fun for clearly observing fishes, amphibians, and crustaceans move about in a pond, etc. without getting your face wet.