Just got this, so I haven't worn it in the water yet. However, it is absolutely adorable. Very flattering and flirty, the only reason I'm giving it 4 stars is due to the minimal coverage on the butt area. I don't mind it so much, but it is certainly not full coverage by any means and would not be super comfortable for long walks on the beach/playing around outside... I can see it riding up pretty quick! Otherwise, it goes great with the Freya halter top to match - this is my first Freya purchase and I will certainly be looking to Freya in the future!
I am around 135-140 lbs, 5'6" (curvy), and ordered a medium. Aside from the aforementioned limited backside coverage, it fit very well!