Fewer moving parts than the Kaufmann floater, fish it in a similar way. Cool fly from Duncan Laird; thanks to the folks over on Washington Flyfishing for cluing me in on this one.
hook - TMC 5212 #6
thread - UTC 140 brown olive/UTC 70 wood duck
body - deer hair mixture
hackle - pheasant rump
Part 1
Take a little of this
this
this
more of this
and a lot of this
clean, trim the tips, throw it in a bag and mix it up
mash barb, attach thread
take a clump of the deer hair mix, 2 soft loops, spin and pack