I like Foxee Jigs, 1/4 oz, orange stand up head with a brownish body. They have been hard to find in recent years, so if you run into some let me know. I use them tipped with half of a night crawler. I have caught many walleye on them in the last few years. Up to 7 lbs (there were leave on the trees so don't ask to see the photo). Casting it out, and dragging it back along the bottom works for me.
I think that combo looks like a crawdad (fish), to the fish.
fish it verticle if from a boat, jig and drop, jig and drop while drifting flats or structure... very similar to a fuzzy grub or lip stick jig. crawler, leech or minnow tip it. good for walleye, crappie, smallies, etc.