A fishing lure comprising a body of buoyant material which has an elongated hole extending into the front head portion thereof. The elongated hole is defined by walls which intersect each other at sharp angles. A lip member is inserted by means of an elongated shank portion within the elongated hole. The elongated shank portion has surfaces intersecting each other at complementary angles to the sharp edges of the elongated hole so as to prevent the shank portion from turning in the hole. An elongated screw member extends through the body of the lure and the shank portion for securing the lip member in the body. The lip member can be readily interchanged by removing the screw so as to affect the depth that the lure dives when fished.