Jim Pfeffer began making fishing lures by hand in the 1930's. He was an avid fisherman who had moved to central Florida from New York only a few years before. The earliest lures were carved by hand and were hand painted by Pfeffer or his wife. Pfeffer's later lures were made with power tools and spray- painted. Regardless of when or how they were made, Jim Pfeffer lures are certainly among the most beautiful of all the Florida made lures. His work was the source of inspiration for many other lure makers.

In the late 1950's Pfeffer authorized Pat Woodall to manufacture some models of Jim Pfeffer lures. Woodall produced plastic versions of the Jim Pfeffer Banana lures as well as wooden versions of other Jim Pfeffer lures. The Woodall baits were packaged in paper envelopes similar to the ones used by Jim Pfeffer and also in cardboard boxes bearing the Jim Pfeffer name along with the name of Pat Woodall Specialties. Upon Pfeffer's death in 1970, Vic Densmore and his brother in law Jim Heaberlin acquired assets of Pfeffer's operations and continued making Jim Pfeffer lures.