Splatter? As in water splashing on the floor? Try creating a volume particle emitter, messing with the attributes to get it shooting a certain direction, applying a good water-like texture to the particles, changing the particle's render type to blobby surface (or whatever they call it), creating a floor with which to make the particles collide, making the floor "collidable," add a gravity field, then tweak it a whole lot to get the effect you want. That will give you a splatter.
That was the quick rundown version. If you have no idea what I just said, visit Mike's cool site down below and look for a liquid particle effect tutorial under the advanced section for a better explanation. He uses the same technique, only it's for water flowing from a pipe.