Compound of 浮き(uki, “floating”, the 連用形(ren'yōkei, “stem form”) of verb 浮くuku, “to float, to rise”) +彫り(hori, “carving”, the 連用形(ren'yōkei, “stem form”) of verb 彫るhoru, “to carve, to dig out”). The hori changes to bori as an instance of rendaku (連濁).