How do i model a rubber sheath as a separate part ?
I thought about a bit more and here is an easy way.
This is using a multi-body and revolved thin feature.
Pick the front plane and start a new sketch. Draw a center line to revolve about, make sure it has a midpoint relationship. Now convert the silhouette edge of the handle (see photo for steps). Now you have two lines (one solid and one construction).
Start the revolve feature, picking your new sketch. A warning pops up that the sketch is open, click NO.
Notice that the Thin Feature is checked. Also, important, UNCHECK the box for Merge result, this will give you the two seperate bodies (one handle and one rubber grip). Click the green check.
Now there are two separate bodies. to change to color, hide, make transparant of a body just right click on the body shown in photo.
Here is what it looks like after you change to color of both. Also you could go Insert, Feature, Split Bodies and this command will give you the option to save out the bodies as separte parts that you can assemble.