A waterfowl decoy which can be used in water and on land. The waterfowl decoy requires no additional components to be removed or added to convert the decoy from use in water to use on land. The decoy includes stakes which rotate about axles fitted to a keel on the decoy. The stakes can be rotated or unfolded from the keel so that they point generally downward. The stakes may then be pushed into the ground to secure the decoy on land. Alternatively, if it is desired to use the decoy in the water, the stakes may be rotated or folded up into the keel where they are stored. The decoy can then be placed in the water where it can float without interference from the stakes.
