Little Iguana Island . If you visit iguana island in turks and caicos, also known as little water cay, you will see many! The winds carried the sealegacy 1 to the shallows until we were floating in just a few feet of water. Little Water Cay "Iguana Island" Turks and Caicos from www.flickr.com Little water cay, also known as iguana island, turks and caicos, is home to the few remaining rock iguanas that, in the past, inhabited most of the turks and caicos islands. Little water cay (iguana island) also known by its official name, little water cay, this island gets its moniker from its most prominent inhabitants. The island is about 55 by 19 mi (89 by 31 km) in extent and mostly flat with some sand hills, the highest points being east hill at 132 ft (40 m), salt pond hill at 102 ft (31 m), and james hill.