Anything will work. Hardwoods of course are the first choice. Being a manly type, I pull mine from trees, with the best of tough guy tools, the chainsaw. (followed by a flattening jig/router, then power planer, then about 2 years of waiting to dry)
MDF can do some cool stuff. The last speaker stands I built, for the bases, I stacked 3 layers of 3/4", glued up, parked my truck on top of them overnight. Hefty looking block, cut to shape, roundover tops, automotive painted. MDF is nice to use, as you don't have to worry about tearout or splitting, takes well to contact cement for veneering, all that.