When I first envisioned this painting, I was thinking of the beautiful colors and a new perspective of Jesus Christ. Then I realized that this is what Peter would have seen when his faith faltered as he attempted to walk on the water calling out as he sank, "Lord, save me!"
The hand of Jesus reaching into the water for Peter should give each of us some comfort. We each have failed in someway on our path to be like Jesus and He is always there for us. We just need to reach out and grab His hand.
Here are the verses that depict this story in Matthew 14:28-31
28 And Peter answered him and said, Lord, if it be thou, bid me come unto thee on the water.
29 And he said, Come. And when Peter was come down out of the ship, he walked on the water, to go to Jesus.
30 But when he saw the wind boisterous, he was afraid; and beginning to sink, he cried, saying, Lord, save me.
31 And immediately Jesus stretched forth his hand, and caught him, and said unto him, O thou of little faith, wherefore didst thou doubt?