The type of wood does not matter, nor the shape. I'd pick something visually appealing before I worried about anything else. A drill press keeps the holes straight vertically if that sort of thing bothers you. If you don't have access to one, a guide
like this can be used with a hand drill. You want to make the holes about 1/16" larger than what is going to go in them.
My first version (only so far, but I know I will make more as I use this more) is black walnut wood, but mostly sap wood so it is not so dark. I liked the waney/live edge on the front. This is two inches thick. Some of it is drilled and the shallower indents for the cans and bowl were hand carved. I still have to plane it smooth and add some finish but using it keeps getting in the way of doing that.