There is no term for a group of octopus, as the mollusks are solitary, according to the Vancouver Aquarium. While some species of squid, another type of mollusk, live in schools when young, the octopus lives alone in underwater dens its entire life.
Nature Works reports that incirrata (without fins) Octopus, which accounts for roughly 85 percent of them, live in relatively shallow sea water in rock crevices or caves along coastlines throughout the world. Cirrata, or finned octopus, live from 1,000 to 24,000 feet below the sea in many of the planet's oceans. There are about 200 species of octopus.