Have you ever thought how jellyfish babies get born? And what does a hermit crab got anything to do with 'em?
This particular animal is called Podocoryna carnea. Like most jellies and close relatives of jellies, it has a pretty elaborate life cycle. This one involves a free swimming jellyfish, and a larva that swims around then lands on the back of a hermit crab's shell. Then the larva metamorphoses into a polyp, which buds more polyps, growing into a whole colony on the crab's back. The colony is made up of lots of polyps that are all connected and share fluid through a web of tubes that circulate partially digested food. Some members of this colony will eventually bud new swimming jellyfish.
Link (with video clip of the budding jelly babies) - Thanks Molly Gerth!