Streamer Flies
Woolly Bugger photo by Mike Cline/Wikimedia Commons
Choose streamer flies when fishing for freshwater bottom dwellers, such as bass or trout. They mimic a small bait fish or a stout aquatic insect, and they are one of the most commonly used flies for fishing. The quintessential streamer fly is the Wooly Bugger---as of 2009 it retails for about $2---that comes in a limited number of color and shape variations.
Nymph Flies
Nymph Fly photo by Mike Cline/Wikimedia Commons
Bring along a couple of nymph flies when freshwater fishing for virtually any kind of fish. These flies mimic the nymph stage of hatching flies, which are a major food source for most types of fish. Since these are all purpose flies, they are relatively inexpensive, retailing at about $4 for a three pack.
Terrestrial Flies
Terrestrial Fly photo by Mike Cline/Wikimedia Commons
Opt for terrestrial flies when you are looking for a fly that will work in both saltwater bodies and also freshwater fishing holes. Terrestrial flies mimic a land based insect that accidentally falls into the water. Use these flies in rivers, lakes and around the ocean shore or close to shallower beach waters.
Baitfish Flies
Saltwater Baitfish Fly photo by Mike Cline/Wikimedia Commons
Keep baitfish flies in your fishing personal flotation device---a useful multitasking item that retails for about $80---when you anticipate saltwater fishing. These saltwater flies mimic small bait fish that would be plentiful in estuaries and along the shorelines of the ocean. One example is the Glass Minnow that retail for about $5.50 for a pack of two.