Back 3 mm foam, cut to the width of the gape (1 strip)
Wing Elk hair (1 thin bunch, stacked)
Head Yellow thread (left showing)
Cement Loon Flow UV resin (1 drop)
How to tie it
Mount a Stealth D series size 14, start yellow Nano Silk and lay a thin layer down the shank, working back almost, but not quite, to the bend. Trim the tag.
Tie in a medium ginger hackle by the butt end. Do not bother cleaning the fibres up: this fly is meant to fish buggy, and Svend ties them fast rather than pretty.
Cut a section of EP Trigger Point fibres. They need no floatant at all. That is the whole reason they are here. A thicker bunch means fewer wraps.
Tie the fibres in without quite reaching the end of the hackle tie-in point, keeping them uniform and free of stragglers.
Grab the bunch and start wrapping: it fans out into a flat wrapping material and forms the body in a few turns. Tie off and trim.
Palmer the hackle forward with spaced turns, tie it off and trim out the stray fibres. Leave a little space behind the eye and a slight taper built up there.
Trim the hackle fibres off the top of the shank at that front section, where the foam is about to sit.
Cut a strip of 3 mm foam the width of the hook gape - 2 mm if you do not mind it soaking up sooner, and tie it in so it projects a little beyond the bend. The taper you left makes it stand up rather than lie flat, and standing up is deliberate: it tips the bend of the hook down into the water so the fly fishes half-drowned like an emerger.
Cut a thinner bunch of elk hair than you would for a standard Elk Hair Caddis. The foam takes up most of the wing bulk, and the elk is only there for the silhouette down each side. Clean out the fluff and short hairs and stack it.
Set the elk on top of the foam, just longer than the foam so the outline is not a solid rectangular block. Two loose wraps, crank down on the third, then work back through the butts with a few more wraps.
Tidy the head with a couple of wraps and whip finish, leaving the yellow thread showing.
Trim the elk butts off, pulling them out at 45 degrees to get a clean cut, then add a drop of UV resin to the head to hold everything together.