I catch about an equal amount on the bottom jig and the teaser. I think it has more to do with the color and depth. If both are right, the fish will bite either one. I use a jig on the bottom to provide weight.
I tie the loop in the line, then run the loop though the top of the eye and over the entire thing. Then I snug it just behind the eye. The stiffness of the line and the lack of weight makes the teaser ride horizontal in the water with the hook point upright.
The hooks are size 4 light wire aberdeens. The same kind used for live minnows and crickets. I got them on clearance at the local fishing expo this spring. They were originally straight, but I bent the eye down with a pair of pliers. Hope to try some sickle hook aberdeens if I ever get around to ordering some.