My apologies for posting up an unacceptable link, and having had a couple of PM's enquiring about the step by step, i thought it might be useful to copy and post it here.
I have copied it in its entirety so some of the introduction may not quite make sense, with regard the original context of this thread, nevertheless it should give you an idea of one way of tying EP Baitfish flies such as the Peanut Butter series.
EP Fibres are actually very easy to tie with and blend superbly with a bit of brushing. To be effective as a fly however the proportions need to be right, and most tiers when first trying out EP tend to over dress the fly somewhat. A good tip I read some time ago was, that when placing your fingers behind the fly at the tail end, you should be able to see them quite clearly when looking through the materials.
If bulk in a fly is required, this can be achieved by gradually increasing the thickness of each length of fibres tied in, and also by utilising a couple of mid ties towards the shoulder of the pattern being tied.
I agree that there seems to be no in between as far as fly fishers are concerned when it comes to EP fibres, and you either love 'em or hate 'em. Whatever, there is no denying that flies tied with EP account for a lot of fish, however, there does seem to be a lack of instruction with regard to tying well proportioned bait fish with the stuff, and perhaps this is what puts off some from using it.
If it is of any help, below is a SBS, I put up on a couple of forums over here in the UK some time ago, following several posts about EP, and I apologise in advance for its length (which needs 3 posts due to the number of photos) and hope that it doesn't become too boring, as it was written up for the UK, where the number of tiers familiar with some of the techniques required for SW flies is pretty limited, mainly because we have nothing in the sea to fish for over here!!!
Step by Step
Hook:- Gamakatsu SC15 or any short shank wide gape hook 1 up to 6/0
Thread:- 8/0 white.
Materials:- EP fibre or EP3D fibres, the colours of your choice & Flash, again of your choice.
Eyes:- EP Eyes 7mm Pearl Blue or colour of your choice
For this pattern I have used an SC15 size 2/0 and EP3D fibres in Baitfish Belly, Pinfish, and EP Fibres in Hot Pink, Lavender & Red ......You could if you wanted to use all white/polar or baitfish belly, and colour with marker pens, although you will not get as good a blending effect.
STEP1 put a small layer of thread about 3/4 the way down the hook shank, and attach a small amount of Red EP fibres on the underside of the shank, double this back, secure with a few layers of tying thread, and trim the fibres so both ends are even. This will represent the gills.
STEP 2, Separate a thin length of EP 3D Baitfish Belly fibres from the main hank (Never try to cut anything less than a full length of fibres from the main hank, you will finish up with an awful and unworkable hank if you do)
Secure the whole length to the top of the hook with a little more than you want the overall length of the fly to finish up as, protruding as a tail, and the remainder of the fibres pointing towards the eye of the hook. Now fold the length of fibres facing towards the eye of the hook back over itself to lay level with the material facing away from the hook, and secure with a few layers of thread. Trim this top length of fibres so it is a little shorter than the length underneath and with the aid of a small brush or comb, blend the two lengths together.
STEP 3 Taking a thin length of EP 3D Pinfish fibres, repeat exactly step two, making sure each length of fibre is slightly shorter than the length of the one directly underneath it. Brush or comb until all the fibres blend together.
STEP 4 Cut a thin length of Baitfish Belly fibres from the hank, and secure to the underside of the hook shank making sure that the length is shorter than the original tail tied in. Trim off the remainder of the forward facing fibres, turn the hook over, and secure another length of fibres in the same position on the opposite side of the hook, making sure that both tyings are of equal length. Now brush or comb through all of the tyings thus far, until they blend together.