Belly and body wings White uni stretch (Polar Fibre)
Flash Light blue shimmer (about a dozen French flash fibers)
Back wings Charcoal grey material (Polar Fibre)
Dubbing collars Pearl ice dub (Ice Dub in a split thread)
Head dubbing Silver ice dub (Ice Dub)
Final back wing Black ostrich herl (Polar Fibre)
Cheeks Grizzly hackle (2 saddle hackles)
Topping Blue macaw (dyed peacock herl)
Collar flash Pearl flashabou (2 strands Flashabou)
Egg head Orange permanent marker (dyed deer hair, spun and trimmed to a ball)
How to tie it
Mark the shank just forward of centre and start the 18/0 white thread there. Mount the 3 mm blue 3D eyes on 80 lb mono at that mark with figure-eight wraps, build a thread base over them and cement. Everything else on this fly is measured off the eyes, so they have to be dead centre and immovable.
Comb and fold each clump of Polar Fibre before mounting it and divide the fibers evenly with a bodkin. Tie a white belly wing underneath at the base of the eyes, a dozen light blue shimmer flash fibers on top, then a charcoal grey wing over that with the tips slightly longer to start the taper.
Split the thread, wax it, load it loosely with pearl Ice Dub, spin it and brush it out hard before wrapping. Thinning the noodle first is what keeps a dubbing-loop head translucent instead of bulky.
Repeat the sequence, white underneath, white on each side, charcoal grey on top, then another spun pearl Ice Dub collar. Working forward past the eyes so each wing sits slightly shorter than the one behind it and the profile tapers like a smolt.
Pull all the fibers back under tension and wrap a white collar behind the eyes, tie two strands of pearl Flashabou folded over the thread into each side of the collar, then overwrap the whole collar with red thread and cement it.
Ahead of the eyes add a silver Ice Dub collar, then a short white belly wing, a black Polar Fibre back wing, grizzly saddle hackles on each side and dyed blue peacock herl over the top.
Finish with a clump of dyed orange deer hair spun on the bare hook in front, packed tight and trimmed to a ball. That orange head is the 'egg' the smolt is feeding on and the whole point of the pattern.