A novel hydrophobically associating polyampholytes of poly(AM/AA/AMQC12) were synthesized by the free radical copolymerization of acrylamide (AM), acrylic acid (AA), and dimethyldodecyl(2-acrylamidoethyl)ammonium bromide (AMQC12) in water without any surfactants (named AAQ series). The structures of polymers were confirmed by H-1 NMR and C-13 NMR. The molecular weight and polydispersity were obtained using gel permeation chromatography (GPC). The hydrophobically associated properties of polymer solution were characterized by rheology, steady-state fluorescence probe, and H-1 NMR relaxation time (T (2)). Isoelectric points (IEPs) of polymer solution were determined by the effect of pH on viscosity below critical association concentrations (cac), and the reduced viscosities of samples at IEPs were increased in the presence of NaCl. Moreover, the steady-shear viscosity of sample at IEP was also greatly enhanced in NaCl solutions when the polymer concentration is above the cac. Meantime, the storage modulus and the loss modulus of copolymers showed that the sample behaved as gel in salt media.