It was Diet Pepsi and I did. For shame!
Here is a book for those who wish to use the materials that they harvest themselves: http://www.amazon.com/Field-Fly-Tier.../dp/1571882057
Most guts have it right. Chop off the tail and let it dry after a good soapy wash.
Now I just need the time to go get them.
While not fly fishing Mepps Spinners in Wisconsin buys squirrel tails for their spinners. This is how they want them: http://www.mepps.com/programs/squirrel-tail/
This thread does bring up one of those old sayings though that have become old for a good reason: "There is more than one way to skin a cat" or in this case a squirrel.
Rick
This question is for ducksterman and those who leave the bone in: By leaving the bone in, how do you go about making squirrel-tail soup?
The same way you make spotted owl soup.