Yes, substitute with whatever you have or can find. I'm not sure the materials I used were the same as on the one in the picture I found.
Here's the original image...it also used a lip to increase its action in the water...which I omitted when I tied it:
warmwater_flies_1100.jpg

A friend gave me several colors of tubing from JoAnns...I don't know if its the same brand or style as one you listed above, it wasn't packaged anymore. It was smaller diameter than the 1/4" FlexiCord and also stiffer. It looked really nice, but I had a hard time trying to get cut sections of it it to turn inside out without unraveling. I gave up. I guess I should try turning it inside out BEFORE I cut it...didn't think of that at the time. Your tubing might be different, too.