Tom, I have no clue how you get such great looking skirts on these!
I use a scissor with a very long, ultra pointed blade first. After I trim the bait for overall length, I slip the scissors blde in the hollow to where I want the tentacles to start near the head end and snip, running the cut right smack down the middle of the top color, then do the same on the bottom. I end up with two flaps, each having the top and bottom color. I lay the bait out flat on its side one flap at a time and split each into thirds using a single edged razor blade. If I get a wide tentacle I'll split it again so the number of cuts is real arbitrary.
I have discovered a trick to the dipping to get a nice, smoothly layered finish on the bait but it would be super confusing to try and describe it. The dipping is done light color first and each color gets dipped as many as 4 times to achieve the color I want. I keep the plastic hot, right up around 350 or a little higher, especially on the darker color so it flows and doesn't just stack up.
Practice definitely improves the end result. If you can find a way to rotate your wrist, turning and changing the angles and and direction of rotation after each dip, you will have just made your dipping simple. It took a while for me to figure it out. Try dipping the rod and then keep the rod moving, all the while watching which direction the plastic wants to run and move the rod in the opposite direction. Remember, never stop the movement of the rod. You should look like some wild kung-fu dude getting ready to lay hurt on a baddie.
I'll be posting another pic later this morning. I've been busy with this little venture.