Egg
A female mayfly lays her eggs on top of a body of water after mating, which usually occurs in a swarm of many other mayflies. These eggs eventually sink to the bottom and hatch into naiads after anywhere from several days to a few months.
Naiads
Naiads are oblong creatures with gills on either side of their abdomen for extracting oxygen from the water. They have six legs and, depending on the species of mayfly, two or three tails extending from the tip of their abdomen. At this stage, the mayfly feeds on algae and detritus in the water. Naiads are especially sensitive to water pollution, according to the University of Kentucky Entomology Department, and need clean water with lots of oxygen. Mayflies remain in the naiad stage between one and two years; once mature, they swim to the surface and molt into their adult forms.
Subimago
The subimago is an in-between state for the mayfly. At this stage of its development, it has assumed its winged adult form but is not yet sexually mature. A newly molted subimago will wait for its wings to dry before it flies off to molt into a full adult; the mayfly is the only insect that molts again after its wings become functional. The subimago stage can last as long as 48 hours but might be as short as a few minutes, depending on the species.
Imago
The sexually mature mayfly will usually mate on the same day it reaches this final stage. Mayfly mating occurs during swarms --- hundreds or thousands of male mayflies buzzing around each other. A male will grab a female mayfly when she enters the swarm and fly away with her, fertilizing her eggs. The female will then lay her eggs on the surface of the water and, shortly thereafter, fall into the water herself and die. Males also die shortly after mating. Because of their incredibly short adult lifespans, mayfly imagoes do not have functional mouth parts; they don't live long enough to necessitate eating.