Waterspouts are tornadoes over water that can reach speeds up to the 190 mph range,
They sometimes reach inland where they can cause serious damage.  They are a threat to boater. See NOAA NWS
How are waterspout formed?(by USA Today)

Initial stages of formation above.

     The inner tube can be easily distinguished in the  picture above.

MOVIES (to see movies, it's best to right-click and Save)
From genesis till dissipation (2MB) New (by PhD student Leonid Tolstoy)
Full strength (11MB)
 

*All photos and movies above taken by Climmate Lab Students, UPRM; Ricardo Ríos,  Luis Betancourt
and Obed Cabán.
This picture taken by wife of UPRM student  Sergio Medina, and published by Primera Hora newspaper.

Below are more pictures contributed by Gustavo Martínez, UPRM 60' alumnni