Sail Rock is a solitary underwater mountain more or less halfway between Koh Phangan and Koh Tao. It takes about an hour to get there from either of these islands, or some 2 hours from Koh Samui. The bottom goes down to some 40 meters around the rock. The pretty heavy currents around Sail Rock attract loads of bigger fish, such as baracuda's, trevally's and on a lucky day even a whale shark may pass by.
Read more about diving at Sail Rock.