I simply coated my dogbones with tool-dip from the hardware store. That's the rubber stuff used to coat plier handles. No teeth chipped yet.

I prefer this style of 'bone, as it is really easy to grip and hook into either end:
http://store.catsailor.com/tek9.asp?pg=products&specific=jmorfmnqr4
I tie to the top, but some like to tie the trap line to the middle for a smaller adjustment when they switch ends.