ipod fell into water how do you repair?

Answer 1

Wait 3 days to see if it will dry. If it still doesnt work, bring it to a repair shop and see if they can do anything. If not, then use your warranty and get a new one.

Answer 2

By replacing it with a new one.

Of course if that isn't an option, I hope that you did not turn it on immediately. You need to let it dry thoroughly (3 - 5 days) before trying to turn it on. If you did turn it on right after pulling it from the water, more than likely you have shorted out most of the circuitry and it is toast. Time for a new one.