Vancouver Island Faceters Guild
Natural
When you think of faceting the first thing that normally comes to mind is "What can I cut a stone with?". The short answer is virtually anything. You cut facets on any material from transparent to translucent to opaque. The goal in faceting is to maximize colour and light return to showcase the beauty of the stone so the latter 2 categories are less desirable choices.
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Natural materials cover a wide spectrum. Many beginning faceters start by cutting various colours of glass as this is a relatively inexpensive material that is readily available and easy to cut. I have even seen some experienced cutters work with glass marbles with the coloured inclusions oriented to provide an interesting pattern and colour play. Starting with inexpensive material gives you a chance to get comfortable with the cutting process while limiting your financial commitment. As you begin cutting you will also begin building your "near miss" collection of stones that to others look just fine but you will always see the flaws - no matter how small.
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As you get comfortable and your skills develop move on to materials like Quartz, Tourmaline, Topaz, Morganite, Garnet or Amethyst. Be brave and try a bit of everything. Each material has its own peculiarities and quirks. Finding and exploring them is part of the fun or the learning process.
Synthetic
For every natural stone you can pretty much guarantee that someone has produced a synthetic version that you can cut stones from. When you mention synthetic stones Cubic Zirconia jumps to most peoples minds. CZ as it is commonly called is certainly ubiquitous and is produced in all colours of the rainbow and even in colour change varieties.