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I have used both store bought and home made marker buoys for years to mark stuff like creek bends, end of points etc. From personal experience those that I have used that are round tend to continue to unwind from from wind or wave action. And the marker ends up off target.
Those I have made from flat styrofoam aren't as likely to unwind. Cut it to size (4x6) and sand the edges with sand paper to smooth it up. Then take a sharpee to mark it on how much line you put on it as in 20, 30, 40 feet etc.