I've used all sorts of material. Most of the time i use cheep polyester thread that's usually used for sewing. Each strand has a 2 lb breaking stength i generally use 40-60 strands depending on the weight of the bow (I haven't had a bow hevier than 50 lbs yet). I've also used floss, monofament fishing line, and even sinew and yucca bofore. I've mainly used the thread for it's ease of access, affordability, and workablility.
I normally wouldn't care about stretch or weight if i'm target shooting or if i wanted to hunt small or mid sized game, so thread works just fine. But i want to start measuing the velocities from bows and to get the best numbers I would need the most efficient string. I obtained Dyneema fishing line which is 0.18 mm at 20 lb test. From what i've looked up dyneema has a stiffness (modulous of elasticity) of around 100 Gpa, way higher than thread. If i wanted to use a natural material I'm leaning towards flax (linen thread), or hemp.