An AC-driven, non-thermal, atmospheric pressure air plasma is generated within the gap separating a disc-shaped metal electrode and a water electrode. The ignition phase and the steady-state are studied by a high-speed CCD camera. It is found that the plasma always initiates at the surface of the water electrode. The plasma exhibits different structures depending on the polarity of the water electrode: when the water electrode plays the role of cathode, a relatively wide but visibly dim plasma column is generated. At the maximum driving voltage, the gas temperature is between 800 and 900 K, and the peak current is 67 mA; when the water electrode is anode, the plasma column narrows but increases its light emission. The gas temperature in this case is measured to be in the 1400-1500 K range, and the peak current is 81 mA.