In 1959, G. Franz published a thorough investigation of the underwater sound produced by liquid drop impacts [G. Franz, J. Acoust. Soc. Am. 31, 1080 (1959)]. He discovered that, under certain conditions, a gas bubble was entrained by the impacting droplet, and the subsequent oscillation of this bubble resulted in a large amount of radiated sound. Recently, Scrimger has measured the underwater sound produced by rainfall and has discovered that a well-defined spectral peak exists near 15 kHz [J. A. Scrimger, Nature 318, 647 (1985)]. The sound produced by the impact of water droplets on a water surface, both for individual and for multiple events such as those produced by artificial and natural rainfall, has been examined. The studies indicate that the major contribution to the underwater noise produced by both rain and snow is that associated with the oscillations of gas bubbles introduced into the water by the impact. Both experimental and theoretical evidence for these conclusions will be presented, including numerical studies of the drop impact process. [Work supported by the ONR.]