i've tied flied since i was 10 or so and made a few wood casting plugs like rapalas. you can use balsa if the fish you catch don't have teeth (like bass), but if you catch a pike, walleye etc, they won't last long.
the biggest key no matter what wood you use is to cut a kerf in the bottom of the plug and run wire through it, twist loops in the wire where you tie your line and attach a treble hook. the wire is then laid in the kerf and filled with epoxy, you can add sawdust to the epoxy to make it blend in more. this way you have a direct connection from line to wire to hook and are not relying on screw in eye's, you don't really need the seconf hook up front, a single treble hook in the back is more than adequate.
i paint them with any old paint, one good tip is to use an old toothbrush, dip the tis of the toothbrush bristles in the paint and then run your finger accross the brush, the paint with splatter onto the lure. by using different colors and angles you can make pretty cool patterns. i'll try to post some pictures later.
