It's a doily that has waves and ships around. (^_^)
ADDED - About its pattern.
On the site I found the pattern of this doily, it was written both in English and Japanese. Once you click on the link above to go the pattern page, your browser(IE) may ask you to download a Japanese text display file. Go ahead and do that, and next, you have to make sure Japanese text is showing properly by clicking on "View" >>> "Encoding" on your brownser. If "Japanese (Auto-Select)" is checked, the page is displaying as it supposed to.
In order to continue on to the next page, click on the link (in Japanese) at the very bottom of the page.
If you go the top page of "Crochet in English" where I found the pattern of this doily, you will see pictures of some more beautiful doilies. You can go to the pattern page by clicking on the photo of your favorite doily.
One thing is though, you can find most of the doily patterns there on other free pattern web site such as Crochet Pattern Central. Patterns there do not have Japanese translation so you won't have to change encoding on your browser. Unluckily so far, I have not found "Sailing... Sailing" pattern anywhere else but the one above. I will keep searching its pattern only in English, and I will post the link here when I find one. (^_^)