Most bonefish are encountered in water from 1 to 3 feet deep. A slightly weighted fly that rides hook upward is required to fish this water properly with a floating fly line. Try to match the sink rate of your fly to the depth of the water you are fishing.
Bob Nauheim is credited with developing a fly called the "Crazy Charlie." It is a design which sinks quickly to the bottom and then rides hook-point-up to remain comparatively snag free when retrieved. It was colored to imitate a small fish or possibly a shrimp. It proved itself to be a very reliable producer of bonefish and drew nearly instant recognition around the globe not only as a pattern, but also as a style of design. Many different colors of flies are now called "Charlies" in honor of the first one that set the trend.
Weighted eyes used in the following patterns are either stainless steel bead chain or coated lead for corrosion resistance in saltwater.
Many bonefish food organisms are well camouflaged to match the color of their environment. Coral bleaches to a light tan color as it dies. It often dies in patches where it is expose by low tides. These thin water areas are prime habitat for bonefish food organisms.
There are a lot of pinkish looking things crawling around on some hard coral flats. Pink flies are very productive in many places.