You can use tweens to make a sprite slowly bob up and down, like it is floating in water. It is a useful effect for powerups and draws the player’s eye to it.
#sprite slowly moves up and down
var tween = create_tween().set_loops(INF).set_ease(Tween.EASE_IN_OUT).set_trans(Tween.TRANS_SINE)
tween.tween_property($Sprite2D, "position:y", -5, 2)
tween.tween_property($Sprite2D, "position:y", 5, 2)