Pinch the barb and start the strong white thread; at mid-shank, tie in a 3/8-inch piece of buoyant foam pointing forward over the eye, wrapping only moderately tight, crushing foam kills its float, and taper the tie-down.
Run the thread to the rear and pinch on a small tag of red Ice Dub at the bend for a hot accent under the strip.
Tie in the white zonker strip at the bend, binding it back over itself a little for durability, with the tail trailing two shank-lengths behind the hook; throw a half hitch.
Dub the body loosely with silver holographic Ice Dub forward to the front. Use a dubbing loop if you don't have a rotary vise, and keep it buggy rather than tight.
Bring the thread back to a point about a quarter of the shank behind the eye, settling it into the dubbing.
Pull the zonker strip forward over the top of the body and tie it down at that quarter-point.
Pull the foam back over the head area to form a loose balloon (the looser the foam, the more buoyant) and lock it with two or three strong thread turns pulled down firm.
Trim the foam excess at the top rear of the balloon head.
Comb the body dubbing rearward so it flows back, then work head cement into the thread at the tie-off.