All you need is water, cooking oil, winks, marbles or crayons or flowers for decoration. Cut a plastic(polythene material) into round shape. Punch in the middle for hole and fix the wink in it.
Now in a glass bowl pour water and a little cooking oil. You can put marbles or crayons at the bottom for a beautiful look. I have used flowers. Now just put the plastic on the top and lit it... You have a beautiful water diya ready in couple of minutes.