By far the predominant wood used for guitar necks is Mahogany (typically Honduran Mahogany). Mahogany is favored for its high stability, high strength, and light weight. Its straight grain makes it easy to carve and it can be found in sizes larger enough for one piece necks. Other woods occasionally used for necks include Indian Rosewood, Spanish Cedar, and Maple.
To add additional character and stability to the neck, a three or five piece neck is available. Essentially, thin boards of different species of woods are "sandwiched" between two pieces of of Mahogany. These are often referred to as "inlaid" necks.
Single Piece Neck - Honduran Mahogany
Upcharge: $0
Five Piece Neck - Honduran Mahogany/Ebony/Cocobolo Rosewood/Ebony/Honduran Mahogany
Upcharge: $150