The iPhone 7 is rated IP67. What this means: The phone is built to sit submerged at a depth of up to 1 meter of water for 30 minutes without any water going where it shouldn’t. Apple says it will survive a splash or an accidental drop in some shallow water (yes, the toilet) but that you shouldn’t swim with the phone.
I didn’t listen to Apple. I went swimming with the phone for nearly two hours, splashing in and out of the water and shooting nearly all of this video. While water makes the touchscreen go wonky, and texting from under the sea isn’t very practical, underwater photography is actually totally possible. You can use the volume button to snap photos, and if you hit the video record button before you dive down, you can capture underwater footage.
The most important thing to remember is this: If you do submerge your phone, for whatever reason, dry it off and let it air out for at least five hours before plugging it in to charge.
So, how’s the phone three days later? So far so good. That said, I don’t recommend you do any of the above. Apple clearly states: “Liquid damage not covered under warranty.” Translation: If something goes wrong, you’re on your own. The possible exception is if you have AppleCare+, which covers liquid damage that results from “an unexpected and unintentional external event...that arises from your normal daily usage.”