I saw this fly in Fly Tyer and had to buy the issue. The creator is John Ryzanych and he makes Softex.
I was lucky enough to get a private symposium at a show from one of John's friends.

Nice looking fly!!!!

what is soft tex??? The fly to me looks like it has deer hair

The fly is reverse tied with Unique Hair or Fish Hair and pulled over a foam disk (placed on the shank temporarily) towards the back of the fly. The hair is captured around the disk with an o-ring (I used a twist tie) and dunked in Softex about 2/3 of the way back to the disk. Let the Softex set up, remove the foam disk, attach eyes and dunk in softex deep enough to cover a bit behind the eyes.
At this point, you top the fly with some crystal flash. Jus lay it in the Softex and squish it into the Softex with your bodkin.
Let cure and go catch fish. The fly is hollow, quite light and the Softex is pliable enough that a fish can squash it and get hooked. Neat looking fly that pushes alot of water. It is weighted near the head with lead tied in under the hook shank. The hook is an Owner jig hook. The fly is supposed to jig and dart depending on the way you strip it.

Canyondiver, nice tie, I saw that fly also,havent had time to tie any YET but will soon.
GOOD LUCK GOOD TYIN:D