This must be for your water detector.
Specific gravity of gasoline is .760
Specific gravity of water is 1.00
Anything with a specific gravity between 1 and .760 is lighter than water but heavier than gasoline. It will float on water and sink in gasoline.
Chart of some specific gravities of materials here:
http://www.reade.com/Particle_Briefings/spec_gra2.html
I had an idea pop into my head about a pick up tube that would float on top of any water in a tank so it would only draw fuel....
That won't work. When you're under way that fuel & water are sloshing around and mixing up so there won't be enough water at the bottom to hold up whatever floating material you put on the end of your line. All that water will be suspended in the gas until you stop & it settles again.
Plus... why float your pickup just above the water level? Why not choose a float that floats on top of the fuel and then make a pickup that draws fuel from just below the float, say and inch or two. Of course you'd never want to run the tank all the way down, but if you're worried about water on the bottom of the tank you wouldn't be running it all the way down anyway.
That wouldn't work for the same reason. The water is suspended in the gas when sloshed around. It's suspended in all levels of the gas.
Really if you have enough water in your tank to worry about something like this, you have a bigger problem than just a poorly running engine & you need to get that water out.