Maybe a drilled-out thumbscrew? Just get something that looks like
http://www.gototem.com/Webgifs/ClipA...ThumbScrew.GIF
available from your local hardware store, borg, etc., and drill out the
thumb part. Basically turn it in to a big screw eye (de-burr the
inside edges if necessary). If you can't find one with wide enough
threads, use the epoxy method mentioned above to secure the thumbscrew
in the lure.
Can I ask why you're making a 16" fishing lure? Going for Champ or
Nessie? (I know it must be for display somewhere, but it sounds like a
fun project to do something at 10X the normal scale...)
Andy