Nothing happens.
Still not good enough. Here let me show how it's done.
Jiraya was frustrated with his student refusing to listen and do things properly how he instructed. He decided it was time to take things into his own hands. Jiraya sat down, legs crossed with his eyes closed and palms brought together. He took a few deep breathes before begining to mold his chakra. The redirected his chakra flow towards his enclosed palms and started releasing small amounts of chakra while focusing on the feel of water on his skin. He imagined water in his palms and focused those thoughts and emotions into his chakra. Suddenly the water materialized in his hands in the form of a toad, alive and moving. Jiraya opened his eyes suddenly and threw the toad at his students face, the toad turning into an orb of water which engulfs his students head starting to suffocate him. Jiraya could have done the creation almost instantly but he wanted to show it to his student. He cancelled his technique and let the water drop, leaving his student soaked.
Try again, and try to do something like I did. Just create a bit of water in your palms, but be descriptive on how you do it.