A fishing lure for use as a top water lure having a construction of negative buoyancy. The lure has an elongated weighted body resembling a squid with angled channels defined in the top and bottom surfaces of the body. Upon the lure being retrieved by an angler, water gushes through one of the channels and splashes over and about the leading end of the lure, causing the lure to "swim" over the water surface with the trailing end submersed in the water. This presents the appearance of a fleeting baitfish. By careful selection of colors and reflective strips the lure will have an appearance that is very visually stimulating to game fish.