Thanks anyway everyone. I had hoped to use the Find My iPod function to make it sound off, but it's probably soaked by now, so no point.
Soaked doesn't mean destroyed.
Most electronics can be saved after a dunk.
They key things are:
- Through removing of contaminants. Pure water is NOT conductive, and will not cause shorts either when present or after dried-out. (When still present, pure water can present other problems, particularly in RF circuits, due to the different dielectric properties of water vs. air vs. any porous material the water has saturated.) And pure water isn't going to remain pure for very long once it's splashed off of the ground, and entered the case where there are probably already dry contaminants present. But, of course, rain water is not pure water. This is more of an issue, say, with sea water. If it's taken a dunk in the ocean, it needs to be throughly flushed. Yes, with water. Disassembly is probably required for a proper flush.
So, you need to get rid of any contaminants that were introduced that will conduct between components. As well, some contaminants are corrosive, and the longer they remain, the more likely they are to cause destructive corrosion. You need to get rid of them.
The biggest issue with rain water is likely acidity of the water. Otherwise, I think rainwater is pretty clean. Cleaner than tap water, anyway.
- Throughly drying-out. Put in in a plastic bag full of rice, and/or those packets of desiccant "beads".
"Find my iPhone" works over an Internet connect to Apple's servers. Your computer or iOS device does not talk to the device being "found" directly, but makes a request to Apple's server, which then contacts the device being sought. No Internet, no find.