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Water lilies are the best known water plant and have beautiful white, yellow, orange or red blooms. They prefer still water, so if you have a waterfall in your pond keep them at the other end. They also require 5-6 hours of sun daily, although there are some that tolerate less. Hardy water lilies can be planted in the spring when the risk of frost is over. They spread horizontally and can be separated after 2 or 3 growing seasons.