The new boat hull is being laid up as I write this, and I'm in the UK for a while to make some lures. Commercial trolling lures are loads of money, while we have a pile of them on the boat, I wanted to have a go at making them myself. Essentially they consist of shaped bits of polyester resin with flashy stuff inside to form the lure head, this is then attached to vinyl or latex "skirts" very similar to overgrown muppets.
I'm having great fun making moulds from silicone rubber and latex, based on proven lure heads. Then making up the head inserts from lead and holographic tape, I also add a few dolls "joggle" eyes to make the whole thing look vaguely fish like. Then pour in some clear or tinted casting resin, let it all go hard and then polish to get a flashy lure head.
Having problems getting hold of skirts in the UK, all the muppets over here only go to about 6 inches max. I'm making lures from about 5 inches, for small tuna and dorado, up to about 16 inches for blue marlin.