Case in point:
Ill-Tempered Cyclops has the Auras of (bestowed) Thassa's Emissary and Aqueous Form.
Then the Cyclops changes zone (returned to library, hand, gets exiled or moved to graveyard by any means necessary).
Would I be correct to presume that the Aqueous Form goes to graveyard (like Auras do) and Thassa's Emissary stays on the battlefield as a creature (like Enchantment Creatures do)?
(Questionable interpretation being that the Aqueous Form stays on the "new" creature of Thassa's Emissary)