If it is PVC don't use it. The softener in PVC eventually eats into just about anything. I used those soft vinyl flips (PVC) in the old days and regret it.
I also collect old fishing lures and somebody started selling PVC surgical tubing as a "hook protector". You slip a small piece over the hook point and it stays put. It will protect your fingers but not the lure. The PVC will eat into the paint of the lure and drastically reduce its value. Takes longer to wreck a coin but avoid any soft plastic. And after decades PVC will turn to goo.
Here is an example of a lure that had PVC tubing over the hooks. Ate right into the paint down to the wood and ruined a minty lure.