This Free VRChat Shader Turns Hair Into Beautiful Animated Liquid
You can also use it with a collection of free water matcaps.
If you're looking for something unusual to add to your VRChat avatar, or you simply enjoy seeing the creative things the VRChat community comes up with (honestly, understandable), AoRin has something pretty cool for you. This is AoRin Liquid Shader: as the name suggests, it's a shader that adds a horizontally fixed, gently undulating liquid effect to your VRChat avatar's surface.
It won't work perfectly straight out of the box, though. The developer has provided a tutorial that walks you through the setup process and also recommends pairing the shader with Amayuki's free collection of water matcaps.
AoRin Liquid Shader is free, but you can also choose to support its development by making a purchase. The developer has also teased a second version of the shader, which will be more "feature-rich" and include a rippling water effect, along with other additions.
If these kinds of effects are your thing, Aikawa and misettei have you covered with some cool options:
You might also be interested in StudioCats' free ClipStudio/Photoshop Live Sync Tool for Unity and TXTRCast by Nanka Tsukurouyo for Blender:
Don't miss Vully's tutorial on setting up liquid physics using PhysBones: