Centuries ago, an ancient water-dwelling race built a hidden city beneath a mountain in the sea. Though these creatures had their enemies, the city was an impenetrable fortress, and, in the safety it provided, they grew complacent. Fizz, however, harbored a curious spirit that could not be satisfied living so cushioned a life. Unable to resist the allure of danger, Fizz had a habit of sneaking out of the city to look for trouble. In his many adventures he grew to be a powerful fighter with a sharp cleverness that let him skirt danger with ease. One day Fizz returned to find the city abandoned: his people had vanished, leaving Fizz without a clue to explain their disappearance. With nothing left in the city to keep him, Fizz salvaged an enchanted seastone trident from the ruins and set out alone.

Fizz wandered the ocean in search of his people for years, using the skills he’d learned during his adventures as young boy to survive. Finally, Fizz discovered the port of Bilgewater. He was fascinated with the existence of life above the water and could not resist exploring the island. In his endless curiosity, Fizz inadvertently meddled in the affairs of the humans who lived there, and his presence did not go unnoticed. His mischief angered many residents who eventually sought to capture or kill him. Fizz found himself cornered, and he prepared to return to the sea despite the fondness he’d come to hold for Bilgewater. As he stood at the docks, a massive dragon-shark attacked the port. Fizz defeated the beast, using his resourcefulness and knowledge of the creature’s weaknesses to his advantage. Having earned the gratitude and respect of the humans, Fizz decided to stay in Bilgewater. To further serve his new home, he joined the League of Legends.

“Fizz makes even the saltiest sailors of Bilgewater look like drunken landlubbers in a fight. Good thing he’s on our side.” – Miss Fortune, the Bounty Hunter

I have played a few games as Fizz using this build and it seemed to work for me rather well as my best was 28-2-11. Fizz is a high AP burst champion reaping lots of rewards. He has many "built in" summoner spells, his passive is the equivalent to ghost making chasing and escaping much easier. He also has a semi-ignite with his seastone trident passive applying extra damage over time much like teemo's poison darts. This build focuses on the AP Fizz rather than the AD Fizz that I've heard of and is fairly expensive.

For summoners spells I take Ignite and ghost, I use ignite because my seastone trident passive is good but it only last a few seconds and ignite does true damage and last roughly five seconds. I take ghost ove flash because playful/trickster has the ability to go through most walls and it dodges ultimates like Ashe's and Ezreal's. With the recent nerf on flash, (which wasn't that great) reducing it's distance, the playful/trickster has roughly the same distance now

For runes I take magic penetration Marks, AP Seals, AP per level and Mana per level Glyphs. To finish it off I take two magic penetration quints and one AP quint for some extra power.

For masteries I put 21-0-9 mainly targeting the AP per level, magic penetration, a small amount of spell vamp and CDR.

For Items you want to start with the Boots of Speed and three [Health Potion]Health Potions for lane survivability and extra speed for his natural ghost. At 1350+ I buy a Catalyst the ProtectorCatalyst The Protector for more health and mana as Fizz is a high risk high reward champ. I then build into Sorcerer's BootsSorcerer's Boots or Ionian Boots Of Lucidity but you dont really need the Boots Of Lucidity because you have CDR in masteries. After I build the Catalyst The ProtectorCatalyst into a Rod Of Ages and if you have enough a Needlessly Large Rod, you then want to build the Large Rod into a Rabadon's Deathcap to give you some power. Afterwards you buy a Giants BeltGiants Belt to give you some health and remove any squishiness and later build that into Rylai's Crystal Scepter. And to finish it off you buy a Lich Bane and finally a Zhonya's Hourglass.

The best combo I found for him was W then Q into them and use the slow in E to do some serious damage. If they manage to get away you ulti them which will slow them and possibly kill them, if not it slows them down enough. On a side note you could also lead in with your ulti if it's necessary or if there are more than one of them.

All in all, this build makes a very strong Fizz and makes him slightly tanky towards late game. This is my first build for anyone, but it work very, very well for me, so any feed back would be nice.

Here is a list of updates to the build:
(BTW the dating is Australian)

16/11/2011 - Build created; and minor fixes
17/11/2011 - "Summoner Spells" added
18/11/2011 - "Lore" added
21/11/2011 - Minor change in masteries (Transmutation to Runic Affinity)