Thanks! Yes, I made that (and the soft baits), and I paint them, though my current situation (apartment) makes chemical processes problematic. I paint with enamels, not lacquers, so it is not totally un-doable, but it is less than ideal. Both my wife and I are sensitive to chemical odors.
I have made turned wooden baits for years, and the PVC was the next thing I started working on. It is the same stuff that they use as trim-board for residential construction, basically a PVC foam. You can find it trademarked as "Azek" among other things. It has a faux woodgrain skin that has to be removed, but the under layer is just a light density closed cell foam that tools easily and floats like a cork. Wonderful stuff to build with.
Man, I miss my shop. :/
SS