AbstractFluid dynamics instabilities are usually investigated in two types of situations, either confined in cells with fixed boundaries, or free to grow in open space. In this article we study the Faraday instability triggered in a floating liquid lens. This is an intermediate situation in which a hydrodynamical instability develops in a domain with flexible boundaries. The instability is observed to be initially disordered with fluctuations of both the wave field and the lens boundaries. However, a slow dynamics takes place, leading to a mutual adaptation so that a steady regime is reached with a stable wave field in a stable lens contour. The most recurrent equilibrium lens shape is elongated with the Faraday wave vector along the main axis. In this self-organized situation an equilibrium is reached between the radiation pressure exerted by Faraday waves on the borders and their capillary response. The elongated shape is obtained theoretically as the exact solution of a Riccati equation with a unique control parameter and compared with the experiment.