Pink is a shrimp color, and on the reef that matters. Yellowtail and mangrove snapper eat a great deal of small crustacean, and a pink head drifting back in the slick reads as food in a way a bright artificial color sometimes does not.
The 1/16oz weight is the real feature. It is barely enough to sink, so the jig moves back at the same speed as the chum instead of dropping out of the slick — which is the whole trick to catching line-shy yellowtail.
Pair with the lightest fluorocarbon leader you can get away with.