Name of Live Action/Disney-like Animated Movie (possibly released between the '60s and '70s) that involved a shark or the like?

I'd have to see Bedknobs and Broomsticks again because I don't think it was that movie because there was an underwater fighting scene where a shark (who spoke with an accent) says "oh, you wanna play rough huh?" and somehow fights back with underwater creatures or people throwing or attacking from the surface. It had interchangeable scenes of full animation and live action. 

I know Bedknobs and Broomsticks had soldiers, a soccer match with David Tomlinson as the referee and a scene where a bed goes into the ocean, but the movie I'm thinking of was different. 

I remember seeing it on the Disney channel in the '80s. 

Does anyone know the name of this movie? Thanks very much.