I also fish the maumee for walleye season and use floating jig heads. Cheapest way i have found to make floaters is to use caulk rope. Uses a standard jig hook, a razor blade, and a hot glue gun. Walmart even carries al lthe material cheap. I bought 1/2 caulk rope. they only had it in a charcoal color but you can buy it in white. Cut the 1/2 caulk rope into 1/2 inch lengths with the razor blade, then make a cut 1/4 in and 1/4 down through each piece. A small squirt of hot glue in slit and slip jig hook into slot. Squeeze the foam shut for 5 secs and you have a floater tha holds up quite well and is very cheap to make. simple too. will try to find a pic to post or possibly a tutorial in the future.
Material:
1/2 inch caulk rope.
Hot Glue Sticks
1/0 Jig Hooks
Tools:
Razor Blade or razor knife
Hot Glue gun