The Jungle Book 2 (2003)
When the elephants are looking for Baloo in the river, the character Flounder can be seen briefly underwater.
Referenced as being a mediocre direct-to-video-quality sequel, which was shown theatrically nevertheless.
Bunskoek and De Klerk talk about this film.
Show on the TV during the universal remotes feature
A fragment of this film is shown in this episode