Is the Samsung Gear Live water- and dust-resistant?

Yes, the Samsung Gear Live is resistant to water and dust. It has the same IP67 standard as the Galaxy S5.

The dust rating is 6 (the highest level of protection), and the water resistance rating is 7 (water-resistant below a maximum of 1 metre of water for up to 30 minutes).

Do not expose your Gear Live to salt water or ionized water. If your device gets exposed to salt water, wash the device with fresh water and then dry it thoroughly with a clean soft cloth (otherwise salt could accumulate and block the microphone and other parts).

The touchscreen may not be active under water.