I live under water

I live under water, I breath there all right,
Where humans just simply and quickly would die.
I walk on the bottom, the fishes there fly,
Like birds in the sky, like knights of the night.

The Crab is all busy, he makes me a ring,
With corrals, and pearls,
Fish is netting for King.
The red, glowing dress,
And seaweed's all impressed with laces, and braces,
Delight on their faces.