I made my own version of theses
http://actiontackleproducts.com/abi.html
Go to your local music store, and ask for the big E string off of a guitar. I asked if they had any used strings. They gave me 3 used strings for free.
Cut one of the ends off, and unwrap the gold wire until you have just the inner wire left.
I used a sharpie marker, and bent the wire around it with pliers until the wire meet again to make my loop. Then slid a bright colored bead down the two ends to the loop. Make sure to use a bead with a a small hole.
Now bend the wires back 90 deg, and out to make your oval shape.
Heat up the tip of your ice rod with a heat gun, and pull off the eye. slide some heat shrink tubing ( i used 1/4" tubing i think) on the the rod, and re-glue the eye back on.
I used hot glue to attach the bobber on the the rod where i wanted it. Then slid the heat shrink tubing over the wires, and glue then hit it with the heat gun to shrink it tight.
I've beat the crap out of them, and they spring right back in to shape.
[signature]