It seems that the partially submerged tag's wikipage says this about itself:
Used when at least a part of the torso of someone is under water or possibly some other liquid. E.g., sitting or lying in shallow water.
Problem is though, the tag itself doesn't seem to suggest that, and a lot of taggers often use it to indicate whenever any part of the body appears to be submerged in a body of water, such as post #2553901 and post #2546248 (probably could have found other examples but for the sake of simplicity I went with legs). I was thinking it deserves a rewrite because looking at the wikipage itself it seems to suggest that using that tag means part of the torso must be underwater or under some other liquid.
Updated