Anything that can float on the surface of water is a floater. When you relax in a pool, floating on your back, you're a floater.
If you throw pennies in the water, they'll sink, but a dollar bill will be a floater, as are dragonflies on a lake's surface and beach balls bobbing in the surf. A completely different floater is a tiny speck that seems to float across your vision, a small, nearly-translucent deposit on your eyeball of the sort that becomes fairly common as you get older. In US police slang, a floater is a body found in the water.
DISCLAIMER: These example sentences appear in various news sources and books to reflect the usage of the word ‘floater'.
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