I think the show’s name was “Diver Dan”. IIRC, the Barracuda had a monocle.
Diver Dan is alive and well on YouTube. The barracuda was the bad guy and had a Russian accent. His evil side kick fish had the cigs,
I believe the barracuda was named Baron Barracuda. My dad used to make up bedtime stories about Diver Dan to tell my brother and I. That was a better era.