To add to the previous comments, there seem to be two types of dink floats...one with diagonal tubes at each end for running your line through (so you can either wrap, or use the rubber band), and the ones with a single tube running end-to-end, for sliding floats.

You put an adjustable bobber stop and bead on your main line above the float, and a bead and swivel (and some additional weight if you need it) below, with the leader below the swivel.

That way you can fish deeper slots without having to cast with 12 feet of line beneath the float. It's especially nice for steep and/or brushy stream banks.