Step 1: Bind about 6 - 10 strands of deer hair toward the hook bend.  I like to make some loose wraps toward the eye to increase the body bulk.  Trim the ends leaving enough room to tie down the wings - about 1/4 the length of the shaft.

Step 2: Tie in the foam.  I cut a thin strip and double it up.

Step 3: Dub the body with your choice of dubbing material and color.  I like to use a cream color for the body to suggest a smallish moth.

Step 4: Lash down the foam leaving room to tie in the wings on the hook shank.

Step 5: Lay about an inch of poly yarn across the hook shank against the body.  Wrap the thread in a figure-8 motion around the yarn and shank.  After about 4 strong wraps, pull the yarn up and make 2 wraps around the base of the yarn (on top of the hook shank) like tying a post.

The fly can either be tied off now, or a small amount of darker dubbing can be added to suggest a thorax or head of the fly.  Finally pinch and pull the yarn wings straight up and trim them evenly at roughly 1/2 the length of the hook shank.

The yarn can be pulled down to the sides of the shank and either fanned out laterally to suggest a Mayfly spinner, or fanned up perpendicular to the shank as shown here.