The Cancun Underwater Museum of Art is the brainchild of English sculptor Jason deCaires Taylor. In November of 2009, he began the project by placing 100 sculptures in the shallow water of Cancun National Marine Park. He has since added more sculptures.
Taylor models the sculptures after members of the local community there, and since they are made of pH neutral marine concrete, they will become artificial reefs over time as they are covered with coral.
Check out some pictures of the museum (click an image to enlarge):
The goal is to divert divers from the already threatened natural reefs (where they often cause more problems) to the artificial reefs of the Cancun Underwater Museum.
Here’s a video from CNN which provides more information about the project: