I like the Tubie 2000 dip worms made by Junie's Cattracker. Sometimes I use them with a single prong hook and sometimes with a treble.

I use the soft rubber ribbed dip worms with a treble hook.  Then wash off the old bait by splashing it in the water a few times, and dry it off by slinging it around in circles with my rod tip for a few revolutions.  You could just dry the dip worm on a rag, but slinging it around is faster and more fun.  A dry dip worm takes re-baiting better than a wet one does.

well i use dk's punch bait too.