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Horticulture/Wood Mulches
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Wood Mulches are the most commonly used mulch in many regions, since wood tends to be in plentiful supply. There are a number of different kinds of wood mulches, but all are essentially from the same source: waste materials from either the lumber industry or the landscaping industry.
Wood Chips
Wood chips are the product of chippers, which are used to process waste wood after pruning or clearing.
Advantages
The big advantage with wood chips is that they are generally free (or at least inexpensive), since they receive no processing aside from the chipping on site.
Disadvantages
Fresh wood chips are "hot", and need to be seasoned for several months before they are safe to use in garden beds (though they are fine for pathways)
Wood chips have an inconsistent texture.
Wood chips may contain thorns, coniferous needles, poison ivy, diseased materials, herbicides and pesticides, trash, etc.
Shredded Wood
Shredded wood is made from either wood chips or larger pieces of wood using a drum grinder or similar industrial-scale machine.
Advantages
Consistent texture
Readily available in many regions
Disadvantages
Can sometimes be hot or sour
Can contain disease spores if not seasoned
Dyed Shredded Wood
Dyed wood mulches are derived from a number of sources, including chips, larger wood, and waste lumber such as pallettes.
Advantages
Consistent texture and color
Disadvantages
Dyes stain hands and clothing.
Does not biodegrade as quickly
Bark Mulch
Bark mulch is derived from forest products, when trees are debarked at the mill.
Advantages
Attractive and long-lasting
Disadvantages
Expensive