If you are real good you can paint this type of effext in by hand using the blur brush in photoshop and the doge and burn tools. Or as I did in this inage, I applied a KPY filter called turbulence. You need to do it in the actual image layer though, this will not work on a added layer. You mask out the object you wish to have the disturbance around. Then you go into KPT plugs and select the turbulence plug in. Set the dampening half way. The brush size to the smallest setting and distortion above the half way mark. You may need to experiment with the settings a bit. Then you drag your mouse across the object near the water line. Try varying directions or move your mouse in a circular motion and see how the ripples expand. The trick is that you need to hold your other hand over the enter key on the keyboard. When you think the ripple pattern is the way you want it hit enter this will freeze the effect and apply it to your image. In the preview the entire object will be distorted but don't worry the main image will not have the distortion applied to the area you masked in step one. To touch up use the smooth and blur tools to tidy up the ripples. This is a trial and error way of doing it but it is easy and quick enough to get good results in short order. You may even wish to experiment with multiple passes. This technique can also creat realistic bump and ripple texture maps. Convert a ripple image to gray scale and import it into the terrain editor can create your own ripple and wave objects.