This paper describes a method for preliminary manufacturing experiments on a type of smart materials—ionic polymer-metal composites (IPMCs). They belong to EAP materials and are famous for their capability of huge displacement within a low voltage (1–3 V). With best operation quality in the humid environment, they can be made as underwater robots in simple structures. In this paper, two purposes are embodied. One focuses on the research on the IPMCs characteristics, including the actuating principle, manufacturing process, and parameters of performance. The other is that a relevant robot driven by IPMCs strips is designed. According to imitation propulsion mechanism of undulatory fins, IPMCs are designed for a novel bionic water vehicle propelled by undulatory multiple fish-like fins (made by IPMCs). The robot consists of three fins on the bottom tightly contacting by plastic foils with each other.