I wanted to try this since I got my macro lens long time ago. However, due to my laziness, I never tried one until today.
The set up was simple, but for first-timers, it's a little tricky. It may not be as easy as it seen.
The theory is the same with Smoke Photography, you'll need a tripod, an off-camera flash & preferably a macro lens. I used the same technique to focus on the water drop, pretty much similar to what I did in Smoke Photography. You will need to hold a pen/stick or whatsoever on the spot where the water droplets touches the surface, then use your camera's manual focus to focus on the pen/stick, and you're done with the focusing part.
I use an aperture of f/16 + 1/200, flash power set to around 1/4. I used some white paper to bounce my flash towards the water droplets and do not point the flash directly on the water.
After almost 30 minutes of set up, I'm done with it and start my shooting session.
Because the container I used is red in colour, thus the water droplets appear red. I'll just stick with it.
What about this 3-Colour Collage? I bet it'll look nice on big canvas prints!