A decoy with selectively deployable keel for positioning at or near the surface of a body of water comprising: an at least partially buoyant structure wherein the at least partially buoyant structure at least partially resembles the shape of an animal, and at least one selectively deployable keel component which is attachable to said at least partially buoyant structure. In one or more embodiments, the at least partially buoyant structure comprises a waterfowl decoy body with a head and neck region, a midsection, an aft, and a bottom surface with a cavity, and the at least one selectively deployable keel component is attached to the bottom surface so as to be deployable when the added stability of a keel component is desired and retractable when not desired, such as for storage.
