Bronze Wound
The most common material for steel string acoustic guitars. This string has the brightest sound when new. However it will loose its initial brightness very quickly. This can be an advantage. If you don't want a bright sound, play on these strings for a few hours and they will start to mellow.
Phosphor Bronze Wound
This type of string is a bronze string with phosphor added to the alloy. This has two primary effects. It will make the string warmer sounding than regular bronze, and will extend the life of the tone (Will maintain its original sound longer). Phosphor Bronze Wound strings are widely used on steel string acoustic guitars.
Silk & Steel
Silk & Steel is a special design string for steel acoustics where the unwrapped strings are plain steel and the wrapped strings have a thin steel core surrounded by many nylon filaments and then wrapped with silver plated brass windings.
This string is under less tension when tuned to pitch and will soften the volume of your instrument. Also it will be easier to depress the strings. This type of string is not as bright as the other steel string types and less durable. Great when a more "classical guitar" tone is desired or softer action is preferred.