Start the orange thread near the eye of the hook and tie in the Black Brass Eyes, wrapping around them a few times to seat them.
Wrap .010 Lead Wire over the forward section of the shank, leaving room at the back, and secure it by wrapping through it a couple of times with thread.
Take the thread all the way to the back and tie in a tuft of Brown Rabbit as the tail, leaving it hanging off the back.
Lash in the 3X Mono rib.
Invert the fly. Cut a strip of black Fino Skin about a quarter inch wide, peel it from the paper backer, cut small notches in it to make it easier to tie in, and bind it in with a couple of wraps back to the rear of the fly. Flip the fly back over.
Make a big dubbing loop and take the thread about two-thirds of the way up the shank. Load the loop with Angora Goat Dubbing, spin it tight, and wrap a clean body forward, pulling the fibers back on each wrap. Capture the loop at the thorax.
Flip the fly upside down again and split the goat dubbing to the sides. Pull the Fino Skin over and rib it with the mono to segment it; start the first wrap with your fingers, brush the goat fibers aside with each turn so none are trapped, and make the last wrap right on the thorax where it meets the thread. Capture the mono, leave the skin hanging off the back, and trim the mono.
Tie in the Soft Hackle by the tip and let it hang off the back. Make a second dubbing loop, take the thread in front of the eyes, load the loop with the same Angora Goat Dubbing, spin it, and build the thorax, pulling fibers back each wrap and going around the eyes a couple of times to cover them. Capture the loop.
Wrap the Soft Hackle a few turns around the thorax, stroking the fibers back, with a couple of turns of the webby base at the front. Capture the stem and pull out the excess.
Invert the fly, split the hackle fibers, and pull the Fino Skin over the top, stroking the fibers back as you go, with the thread toward the back of the head. Bite through the skin with one tight wrap and trim the excess.
Build up a bright orange thread head and whip finish. Rough up the dubbing with a brush and pull out some longer fibers.