I've seen this fly design about 8 or 9 years ago. It was used in Alaska for Pacific Salmon. I don't recall the name of it though. It is a very common practice for tyers in Alaska to use mylar tubing that is shredded after tying it in to add flash to a fly. It is very easy to tie it in, and many of the Alaskan patterns are tied or were originated by folks who do not have anything more than basic tying skills.
First we have Sinktip telling us about OC's fly called the Bisexual (not to mention the other colorful flies of OC's Sinktip also told us about), now you are naming a fly the Lapdancing Bugger! Perhaps it is a good thing that we wear chest or waist high protection when wading the river.
I can see it now, the Capitol Hill Boys will do a double take when they see the Seattle Times reporting that the Lapdancing Bugger has been the "hot one" lately.