Abstract: A multi-layered iridescent reflective coating for a fishing lure and the method for applying the coating to the surface of the lure. The coating preferably comprises a base layer, an optical stack comprising at least 3 layers of refractive material, and a protective layer. The layers of refractive material are vacuum deposited on a lure pre-coated with an ultraviolet cured polymer base layer. The optical stack can be applied to painted lures, pre-colored lures, or undecorated lures. The substrate, or lure surface, does not affect the process but can yield varying iridescent effects, depending on the texture and color of the substrate surface. The relative thickness of each optical layer and its relation to the other layers in the optical stack combine to achieve a variety of iridescent effects. A protective layer having a low refractive index is applied over the finished optical stack.