Tatsumasa, the Dragon's Fang

Equipped creature gets +5/+5.
{6}, Exile Tatsumasa: Create a 5/5 blue Dragon Spirit creature token with flying. Return Tatsumasa to the battlefield under its owner's control when that token dies.
Equip {3}

Rootwater Commando

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)

Grayscaled Gharial

Wand of the Elements

{T}, Sacrifice an Island: Create a 2/2 blue Elemental creature token with flying.
{T}, Sacrifice a Mountain: Create a 3/3 red Elemental creature token.

Aquitect's Will

Put a flood counter on target land. That land is an Island in addition to its other types for as long as it has a flood counter on it. If you control a Merfolk, draw a card.

Deeptread Merrow

{U}: This creature gains islandwalk until end of turn. (It can't be blocked as long as defending player controls an Island.)

Sygg, River Cutthroat

At the beginning of each end step, if an opponent lost 3 or more life this turn, you may draw a card. (Damage causes loss of life.)

Jadelight Ranger

When this creature enters, it explores, then it explores again. (Reveal the top card of your library. Put that card into your hand if it's a land. Otherwise, put a +1/+1 counter on this creature, then put the card back or put it into your graveyard. Then repeat this process.)

Waker of the Wilds

{X}{G}{G}: Put X +1/+1 counters on target land you control. That land becomes a 0/0 Elemental creature with haste. It's still a land.

Drownyard Temple

{T}: Add {C}.
{3}: Return this card from your graveyard to the battlefield tapped.

Goblin Piledriver

Protection from blue (This creature can't be blocked, targeted, dealt damage, or enchanted by anything blue.)
Whenever this creature attacks, it gets +2/+0 until end of turn for each other attacking Goblin.

Cleric of Chill Depths

Whenever this creature blocks a creature, that creature doesn't untap during its controller's next untap step.

Hammerhead Shark

This creature can't attack unless defending player controls an Island.

Silvergill Douser

{T}: Target creature gets -X/-0 until end of turn, where X is the number of Merfolk and/or Faeries you control.

Stonybrook Banneret

Islandwalk (This creature can't be blocked as long as defending player controls an Island.)
Merfolk spells and Wizard spells you cast cost {1} less to cast.

Island

Vedalken Shackles

You may choose not to untap this artifact during your untap step.
{2}, {T}: Gain control of target creature with power less than or equal to the number of Islands you control for as long as this artifact remains tapped.

Whirlpool Whelm

Clash with an opponent, then return target creature to its owner's hand. If you win, you may put that creature on top of its owner's library instead. (Each clashing player reveals the top card of their library, then puts that card on the top or bottom. A player wins if their card had a higher mana value.)

Lullmage Mentor

Whenever a spell or ability you control counters a spell, you may create a 1/1 blue Merfolk creature token.
Tap seven untapped Merfolk you control: Counter target spell.