Most anglers have their own opinions and preferences regarding skirt materials and these are mine .
1) Hair was one of the first skirt materials and is generally considered best of use in very cold water. It will make a lure with a much slimmer ,minnow like profile . Tied to jighead with thread.
2) Latex was widely used in spinnerbaits skirts and some jigs years ago but is harder to find nowadays . It has similar characteristics to living rubber but would melt/rot when stored in contact some plastic baits. Slipped over jighead skirt collar
3) Living rubber make a bigger , bulkier profile with many legs that are moving when the lure it retrieved or twitched on the bottom . The older original (square cut) living rubber had "square strands" looking at the ends of the strand while the newer version has "round strands" The fine cut living rubber known as "frogs hair" is considered better for cold water situations . Can be tied to jighead with thread,wire, or skirt band
4) Plastisol is soft ,flexible ,and can be made in just about and color . Salt or scent is sometimes added to the plastic and fish tend to hold on these skirts the longest . The downside is they are least durable . Slips over jighead collar
5) Silicone skirts are the newest and come in virtually any color/glitter combination you can dream up.. It makes a large profile ,bulky bait such as the living rubber and the strands all float up off the bottom when the jig/lure is at rest on the bottom.
Normally attached to jighead with skirt band but can be tied with thread also.
OK hope this helps - Ken