>>10037835I've done it too just keep in mind pink foam is a bitch to cut with just a box cutter, it also does not take paint too well so you'll need something to slather over it.
pic related is my build, I just used pink foam without any modifications (no shaping). Just pink foam + black primer + blue spray paint over it and then Migs Diorama Atlantic gel+sea foam over it and shaped to make small wakes.