Heidi Klum -- If At First You Don't Drown ...

Heidi Klum is either fearless or oblivious ... because for the second day in a row, she took her kids on a water ride ... less than a week after they survived a near-drowning incident.

Klum and boyfriendguard Martin Kristen rode Splash Mountain at Disneyland yesterday with Klum's son Henry. The day before, the fam hit up a different water ride at Disney's California Adventure.

It might be a normal, fun vacay ... except for the fact, Heidi just rescued Henry and two nannies last weekend when they got caught in a dangerous riptide in Hawaii.

Perhaps, some QT on dry land is in order.