Giant Oyster

You may choose not to untap Giant Oyster during your untap step.
{T}: For as long as Giant Oyster remains tapped, target tapped creature doesn't untap during its controller's untap step, and at the beginning of each of your draw steps, put a -1/-1 counter on that creature. When Giant Oyster leaves the battlefield or becomes untapped, remove all -1/-1 counters from the creature.

Master of the Pearl Trident

Other Merfolk creatures you control get +1/+1 and have islandwalk. (They can't be blocked as long as defending player controls an Island.)

Leviathan

Trample
Leviathan enters tapped and doesn't untap during your untap step.
At the beginning of your upkeep, you may sacrifice two Islands. If you do, untap Leviathan.
Leviathan can't attack unless you sacrifice two Islands. (This cost is paid as attackers are declared.)

Ninja of the Deep Hours

Ninjutsu {1}{U} ({1}{U}, Return an unblocked attacker you control to hand: Put this card onto the battlefield from your hand tapped and attacking.)
Whenever Ninja of the Deep Hours deals combat damage to a player, you may draw a card.

Mulldrifter

Flying
When Mulldrifter enters, draw two cards.
Evoke {2}{U} (You may cast this spell for its evoke cost. If you do, it's sacrificed when it enters.)

Lord of Atlantis

Other Merfolk get +1/+1 and have islandwalk. (They can't be blocked as long as defending player controls an Island.)