The slip float rig, also known as the slip bobber rig, consists of a fishing line, hook, slip bobber, bobber stop and weight. The bobber stop goes above the slip bobber to limit how far up the line the slip bobber can go. The hook and the weight go beneath the slip bobber. The slip bobber can slide along the fishing line between the bobber stop above it and weight affixed to the line below it. When this rig is cast, the line is pulled through the slip bobber by the weight until it reaches the bobber stop.

The slip float rig can be used in both shallow and deep water, depending on where along the fishing line the slip bobber is placed. Simply change the position of the bobber stop along the line to adjust for water depth and conditions. The slip float is a versatile rig that is used to catch various types of freshwater and saltwater fish.