A counterweighted weedless fishing float suitable for suspending at least part of an attractant, such as live bait or an insect replica, above the surface of water in which the float is borne, and kits for assembling a variety of attractants, are provided. The float is counterweighted, and may comprise a plurality of air-trapping channels arranged within it to trap an amount of air sufficient to support the float and a connected attractant. In other embodiments, the float may comprise one or more sealed chambers to provide buoyancy. The float may be disguised as a water plant, fallen tree leaf, twig or other floating detritus or water creature. The attractant may replicate an insect such as a dragonfly, an insect larva such as a hellgrammite, or any other natural or artificial fish bait or prey. The float includes an adjustable stem so that the relative position of the attractant or bait with respect to the float and the water surface may be changed depending on the particular fish sought or the conditions present. In one form, the specific gravity of the invention may be adjusted by adding weights to vary its floating characteristics.