Redwood and Cedar are two types of wood used for weatherboarding or clapboard. They not only look good but, are strong and not so prone to decay. You will usually see these installed horizontally with overlapping boards.
As long as it is maintained well, solid wood or lumber is a very good choice. It looks good and can be very durable. It can be placed horizontally, vertically, and even diagonally.
If you are looking for a less expensive option then you may want to think about hardboard. Hardboard usually consists of wood fiberboard, compressed with synthetic adhesive. It is treated with an EPA approved preservative to safeguard it from decay and insect damage.
Plywood siding is yet another wooden siding option. Woods that are typically used for this are yellow pine, Douglas fir, and red cedar. These can increase support for the structure of the building.
Your builder should be able to advise you on the best choice of wooden siding for your home and location but, it's always beneficial to know a little about it yourself.