Almost certainly the water pump is located on top of the gear case and driven by the vertical drive shaft.
It will therefore be necessary to remove the gear case to access it.
Removal of fastenings maybe difficult and great care, release oil, heat and know how may be necessary to avoid breaking them!
(Some small fixed drive outboards have the water pump behind the prop, but not the Yamaha 2 hp as far as I can see)
If you tell us the year or the year code letter it may be possible to locate an exploded diagram, but it is unlikely to be vastly different to the one on THIS PAGE
Thanks Vic - that's very helpful. Surprisingly all the fastenings have come out very easily, which suggests to me that it has been well looked after at some point in its life. I can seperate the join between the leg and lower gear box, but they don't seem to want to come apart completely. Given that there seems to be a huge amount of friction in the transmission (originally completely seized) I imagine I am going to have to put a lot of effort into getting them apart. At least I can be sure now that there are no more fastening to be undone.