I read through almost all the "foam mute" threads, and didn't see a mention of the way I'm trying.
Using a piece of 1/2" thick closed cell foam, I've cut slots in it for each string. My idea here is that it's something that can go on or off, depending on the song. I was also concerned about foam being in long-term contact with the nitro finish. Maybe there's a benefit from dampening side-to-side motion, rather than pressing up or pressing down, I dunno. But also, cutting the slots on an angle allows more dampening on the E-string, and less dampening on the G.
The closed-cell foam is what REI sells for "standard blue foam pads" Invalid Link Removed but my local REI sells it by the 2ftX2ft section for butt warmers when seated.
My first try went perpendicular to the strings, but the G was way over-muted. Second attempt, cut on a angle, gives a very even result. Next I'll cut it down to a more appropriate size and maybe spray it black.
I was trying for a punchy attack and rapid decay for Latin music, like I'm used to with my Ampeg Baby Bass, and that's just what I'm getting (with flats, of course). But the new band plays a lot of Latin songs that really need no decay, maybe even light compression, so I'll pocket the foam for those.
Anyway, hope this helps or provokes experimentation.
....Lyle