How've you been, Marinepowerhouse? I still think that's a cool user name.
A Carolina Rig's a sliding weight, a plastic bead & a swivel. Slide the main line of your rod through the weight, then the bead. Tie the end of the line to one loop of the swivel, & attach a leader from 2' to 6' long (depending upon the fishing conditions & the type of plastic bait you're using) to the other loop. At the end of your leader is a worm hook suitable for plastic bait. The rig's used to driftfish, slow troll or cast-&-retrieve your soft plastic on the bottom.
You can use either a barrel weight or a bullet weight in a Carolina Rig. It depends upon conditions. If there are a lot of snags on the bottom (weeds, rocks, etc.) or if you're fishing in a fast current, go with the bullet weight. For just about all other applications, the barrel weight would be fine. If you can only afford one type of weight, or if space is a factor & you can only carry one type of weight, make it the bullet style. The size of the weight can be from 1/4 oz. to 1 (or even 2) oz., again depending on conditions & the size of your lure. Try to go with the lightest size weight you can while still maintaining contact with the bottom. If you're going to be probing very deep water, fishing in a fast current, or fishing when it's windy & there's a big chop on the water, go heavier. If it's a calm day with calm water or slow to moderate current, go lighter. Again, use the lightest weight you can get away with.
As far as what soft plastic to use, the most common types used are plastic worms with an action tail, plastic lizards (or water dogs) & soft stick baits (Slug-Gos, etc.), but you can Carolina Rig just about any style you'd like. Many anglers are Carolina rigging tube baits, too, especially for smallmouths. Water clarity dictates what color to use... neutral to natural colors for clear water, flashy colors for muddy water. Some guys prefer using black or other dark colors in the muddy stuff. You may want to try those as well.
As far as leader length, use the shortest length you can get by with. With calm water, slow presentations, smaller baits or baits that are buoyant, use shorter leaders. In fast water, using faster presentations, or using baits that sink or are neutrally buoyant, use longer lengths of leaders. If there are a lot of snags on the bottom, use a lighter lb.-test of leader than the strength of your main line. For example, if you're fishing with 20 lb. test on the reel, use 14 or 17 lb.test for your leader. That way, if the bait gets hung up, you can break it off & still have the rest of your rig. As far as what to use for a leader, either abrasive resistant monofilament (like Trilene XT or Big Game) or fluorocarbon, but make sure it's clear, so it disappears in the water.
Incidentally, Carolina Rigging is also a great method for stillfishing live bait, too... especially when using a floating jighead with a leach or minnow (but use short leaders with floaters, & don't let too much slack get in the line). Carolina Rigs are very versatile set-ups. I use them quite a bit.
Hope I helped a little. Let us know how you do. Tight lines, Marine.
Keep the line fresh, the hooks sharp, and have fun fishing. God bless you. -Sonny, Life Member since 2002