Here is a nice little number I tied using some of Bud's materials.
When I first started fishing, I never really picked up parachutes or emergers like this one. Because they didn't look recognizable as a bug to me. I, like many folks new to fly fishing, preferred the classic catskill style flies. Pretty quickly it became clear that the fish didn't share my love for these flies. They float great and look lovely drifting on the stream, but there are just too many smart fish that just won't eat them anymore. So I save those for high mountain streams and wild little guys.
For the more technical water, emergers like this that ride lower in the water can do the trick.
Hook: Klinkhammer style hook size 14-16
Thread: 8/0 Olive Green
Body: Quill from peacock dyed light olive, herl removed with an eraser
Wing - Light Elk Hair
Hackle: 4 turns of grizzly hackle