Mr Kanizay said the injuries were a "freak incident" and has since received a biopsy and a number of stitches as medical experts try to piece together what happened.
"I didn't feel anything untoward when I was in the water," he told the Herald Sun. "It was cold, so I expected my legs to go numb.
"I would have been in there for maybe 30 minutes and didn't notice anything until I looked down to put my thongs on."
That is when, Mr Kanizay said, the bleeding wouldn't stop.
"Blood covered both of my feet and I was leaving little pools (of blood) everywhere. I thought I had maybe stood on a rock, but the amount of blood quickly told me that wasn't it," he said.
After the incident, Mr Kanizay walked home before he was swiftly rushed to hospital.
"He actually waited out the front and called out for help because he didn't want to bleed inside the house," mother Jane Kanizay said.
"We tried washing the blood off, but quickly realised we couldn't stem the bleeding so we took him to Sandringham Hospital."
Doctors were left puzzled by the injuries with "pin-sized holes" seeping blood on his legs and feet.
One nurse advised the bites could be from sea lice, but it was no more than a "guess".
The following day Sam's father Jarrod drove the teen to hospital for further testing.
Doctors at Dandenong Hospital were still struggling to contain the bleeding into Sunday afternoon.
The Kanizay family are doing some of their own investigative work, however.
"They were all on Google afterwards, hypothesising as to what happened," he said.
President Donald Trump says the United States will take control of war-torn Gaza, as he addresses reporters at the White House after talks with Israeli PM Benjamin Netanyahu.