of the swivel apparatus 30 taken generally from circle 4 of fig3 for the following discussion reference will primarily be made to fig1 and 3 specific reference will be made to fig4 the swivel apparatus 30 includes a housing 31 which includes two separate but connected housings an outer housing 32 and an inner housing 60 the outer housing 32 includes a generally circular or cylindrical outer wall which is preferably made of polyvinylchloride pvc or similar material the cylindrical outer wall or housing 32 includes an outer peripheral surface or outer periphery 34 and an inner peripheral surface or inner periphery which is divided into three separate portions the three portions include a top inner periphery 36 a central inner periphery 40 and a bottom inner periphery 50 the top inner periphery 36 extends downwardly a relatively short distance from the top of the wall or housing 32 a shoulder 38 extends between the lower portion of the top inner periphery 36 and the central inner periphery 40 the shoulder 38 is radially extending and it defines an inner lip on which is disposed a floatation cap or ring 100 the diameter of the top inner periphery 36 is slightly greater than that of the central inner periphery.