Why do raisins bob up and down in carbonated water?
The raisin has nucleation sites on it that allow bubbles of $\ce{CO2}$ to form. The raisin is light enough to be lifted by the bubbles as they push their way to the surface. As the bubbles are released into the atmosphere, the raisin once again sinks until more bubbles form on it. This will continue until the soda water has lost the majority of its dissolved $\ce{CO2}$.