Place on eye of hook and paint head normal. When you go to heat the head the heatshrink shrinks on the eye. I don’t see why one couldn’t cut a bunch of pieces, place on heads and then place a batch in the oven to heat head.
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UTube from a couple of years ago
Keep Paint Out of the Hook Eye | Wednesday in the Workshop (WitWS) | Jig Making Tips & Tricks - YouTube
I cut mine in about 1" lengths. I also use 3/16th that shrink to about 3/32". heat jig with a heat gun, place tubing over eye of hook. Dip in powder paint shake off excess paint. Place over heat gun again. Pull tube off of eye, and do another one using same tubing. As long as the tubing is warm it will slip over the next jig. If it cools, you can warm it up with the heat gun and continue using it. I bought some in a small packet, about 5-7 3" pieces in O'Reilly's auto parts store to try and still have most of them... that was last year around May.
Thanks for the info