looks like different sizes of tinsel. maybe applied with a hair stacker like you'd make a popping bug and then trimmed to shape? Just a guess.
edit. now that I think about it I think I saw something in the Orvis store in Kansas City that looked similar and you could palmer it on for the body
edit. now that I think about it I think I saw something in the Orvis store in Kansas City that looked similar and you could palmer it on for the body