total noob, so sorry if i posted in the wrong section…anyway, does anyone know of any way to produce caustic effects and light rays for an underwater scene in unity?
Your best bet is to use an additive Projector or a Light Cookie:
http://www.unifycommunity.com/wiki/index.php?title=ProjectorAdditive
thanks! i’ll try em out 
How are these three items supposed to come together to create caustics?
well simply said , you are going to use a texture that you will project on your environment mesh geometry.
texture can also be animated tho.
How can we animate the texture? It would be difficult because Unity does not support GIF anima…wait…Ok i get it, Projectors project Materials, not textures. So I just move the offset of the texture at runtime the way the water shader does. Is there a good shader for underwater caustics? I’m thinking one of the Particle shaders to give a sort of glow to the caustics…
It’s not difficult; you can just do this.
–Eric
so how would I get the projector to only project on the terrain surface that is under the water, not just the whole terrain?
so how would I get the projector to only project on the terrain surface that is under the water, not just the whole terrain? Just bumping the topic.