Water hive (illuminated with glowstone for better view)
The water hive naturally occurs in ocean biomes and sometimes in rivers. They are extremely difficult to spot underwater. The best way to get bees and honeycombs from it is to build quarries over the ocean. It is home to the Water Bee.
When broken with a scoop, Mining Laser, Wand of Excavation, a Vajra or Quarry it will randomly give either a Water princess, Water drone and/or various honeycombs.