So in thinking this through, I would use an EGG sinker which has a center axis thru hole.
For the spring steel tongs, a G string in an electric guitar gauge would likely be sufficient, bent over to clasp the dubbing loop.
On the bottom, something grippable with the fingertips to spin which might even secure the opposite ends of the guitar string - likely a knurled threaded fastener in the hardware store's fastener drawers.
Or they are going for a few dollars on line. Which begs the question... what's my time worth?
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Island Hopper, Guitarist, Incurable Dreamer
and Founder, Worldwide Flyfishing Forum