Sheer knit may be striped, glittered, or otherwise decorative. It can be lined or not for use as skirts, pants, and dresses. Because it's so fine, the fabric can be gathered into a small fraction of its original width, creating voluminous folds. Synthetics, such as polyester, are often substituted for silk when cost and easy care are considerations. Avoid stiff, heavy satins.
Sequined chiffon is suitable for unstructured skirts and dresses.
The sequins dull the needle quickly, so it will need frequent changing. Metallics are flashy, but again, test for snagging and scratching. Lace, plain or glittered, does not ravel, and makes nice sleeves and ruffles, but sharp ornaments such as rhinestones with prongs can get caught on it. I'll add a few more suggestions. When you're shopping, unroll a few yards from the bolt and gather the fabric over your body to see how it drapes.