An exercise and/or play hoop, made of semi-rigid plastic tubing, is partially filed with water (30) to between ⅙ and ½ full, most preferably ¼ full. The water improves the dynamics of the hoop and makes it easier to keep the hoop elevated by gyration. The hoop is made of a length of hoop tube (10) bent into a circle. A coupling tube (20) is inserted where the ends (11, 12) abut, spanning the joint. The coupling tube includes a bore (25) through which the liquid flows circumferentially around inside the hoop, and past the joint. The coupling tube is formed of a hard and strong inner tube and a softer, somewhat compressible outer sheath which forms a seal with the inside of the hoop tube. A decorative, preferably iridescent sheet (18) may cover the hoop.