Mid-day Saturday on Cedar Creek Lake there was a small helicopter at very low altitude (40 or 50 feet?)chasing along side boaters. We were fishing just south of Crappie Island along with a few other scattered boats also sitting still fishing. The copter had already made four or five passes by us, chasing some very fast power boats. A little while later, hear comes this boat headed towards us with the driver and all the other occupants looking up at the copter, not looking where they were driving. They almost ran over us and weren't even aware due to the distraction. It was scary close. They barely missed us just out of luck. The two guys in the copter were obviously having a great time but it proved to be a dangerous situation on the crowded lake.