Geez, do I hate to answer this and have myself dubbed an "oldster", but in the spirit of sharing knowledge--

A Jet Diver works on the same principal as a Pink Lady in that the planing lip makes the thing dive. The difference is that the Pink Lady also uses weight whereas the Jet Diver is buoyant. If you snag the diver and give it slack, it will float up if it can.

The diver has several different ways of rigging and comes in five sizes.

Luhr Jensen still makes the Pink Lady-- and the Jet Diver and a couple of other divers as well.