A diver searches for a sunken treasure that is 97.2 feet below the surface. What is the divers elevation when he is 2/3 of the way down?

The diver is 2/3 of the way down, which means he has descended 2/3 * 97.2 = <<2/3*97.2=64.8>>64.8 feet.

Therefore, the diver's elevation is 97.2 - 64.8 = <<97.2-64.8=32.4>>32.4 feet. Answer: \boxed{32.4}.

To find the diver's elevation when he is 2/3 of the way down, we can calculate 2/3 of the total depth.

Given that the treasure is 97.2 feet below the surface, we can calculate 2/3 of 97.2 feet:

(2/3) * 97.2 = (2 * 97.2) / 3 = 64.8 feet

Therefore, when the diver is 2/3 of the way down, his elevation would be 64.8 feet below the surface.