my i pod had contact with water and it wont turn on what do i do?

One way to minimize the damage is to place the device in a sealed bag of uncooked rice for 5-7 days to try and dry it out. If possible, turn if off if it is on. After that period, you can try to see if it will work. Do not connect it to the charger or try to turn it on, or it will fail faster. If you are able to get it on after that period of time, get a backup as soon as you can before the device fails. It will fail, so make an appointment at the Genius Bar at the nearest Apple store to see about purchasing an out of warranty replacement.