This perplexing video uses some rather clever camera tricks and simple physics. The link gives an explanation of how it is done, but not why. :-P

Video Description:

Fishing under ice (ORIGINAL)

Uploaded by juusdo on Jan 2, 2012

Some under ice views from beautiful lake Saarijärvi in Vaala, Finland

Divers:

• Fisherman: Eelis Rankka
• Fisherman's friend: Tommi Salminen
• Boy with the balloon: Jukka Pelttari

Camera and editing: Juuso Mettälä

Manuscript by Juuso Mettälä and Eelis Rankka

Safety divers: Esa Vuoppola and Juhana Heino

Music: Stefano Mocini: The end of the doubs

Couple of things about this video:

Camera I used was Sony HDR-SR11 with Amphibico HD Elite housing.

The Wheelbarrow was saved from the bottom of the lake and I have used it many times after that.

The rubber duck and the balloon are also home with me.

None of the divers got any permanent damage either.

And yes, we had a lot of fun making this video.

-Juuso

Link: Finnish Underwater Ice Fishing Mystery Finally Solved : Krulwich Wonders... : NPR