A bluegill has a mouth roughly the size of a dime. That one fact decides almost everything on this page. Most tackle sold as freshwater gear is built around bass, and a size 2 hook or a quarter-ounce jig will get picked at all afternoon by fish that can nip the bait off but never get the hook in.
So this guide ranks small things. Jigs down to 1/32 ounce, hooks in the size 8 to 12 range, tubes an inch and a half long, and two hard baits tiny enough that a hand-sized sunfish can actually eat them. Every spec below was read off that product's own Amazon listing on the day the page was built, and the star ratings belong to Amazon's buyers rather than to us.
You will not find a rod or a reel here. Panfish tackle is ultralight tackle, and we ranked that setup on its own page, so putting a rod in this list would be the same advice twice. Start at the end of the line instead. It costs little, it fits in one pocket, and it is the part most people size wrong.