The September, 2006 issue of Salt Water Sportsman
has a great "How To" article on building your own fender teaser.
If you are not familiar with a fender teaser, it is a boat fender painted to look like a large baitfish (typically green/yellow for a dorado, black/purple for a skipjack), then weighted and rigged so that when towed behind the boat it dives and wiggles rapidly. Fender teasers have become almost a standard item in some areas for billfish.
"Off-the-shelf" fender teasers can cost up to $80, so this looks like a good "do-it-yourself" project.