"You've got a really nifty and collectible fly rod lure. Fishing lures meant to be fished with a fly rod are largely a thing of the past due to the advent of ultra-light spinning equipment, but from the 1920s through the 1950s most manufacturers made tiny versions of popular lures to fish with a fly rod. Yours is one of the most popular--a Heddon Punkie Spook, the fly rod version of the Heddon Punkinseed. My father had this exact lure in his tackle box when I was a kid. I used it about 10,000 times and never caught a single fish. Worst. Lure. Ever. But fortunately, it is highly collectible, and in the shape it's in its worth $100-$150. You can see the 1940 catalog cut introducing the lure here."