Watergraph is a term for a Polaroid image-transfer or Fuji instant film image-transfer meaning an image that seems to be or look like a cross between a watercolor and a photograph.
A 'watergraph' can also mean the digital manipulation of a photograph so that it resembles a watercolor. Several people are now producing these commercially, emphasizing the artistic qualities of the product by using a handmade paper. Notable amongst these is the London Art dealer Martin Summers, and the interior designer Robin Moore Ede.
References
Watergraph Wikipedia(Text) CC BY-SA