The choice is very subjective, although I'll be surprised if anyone can point to it used in a fancier carved application.
A few years ago someone referred to "low class brass" and others said that they like it. Hogstrom does very high end work in bronze.
For me the two go-to materials are 416 stainless for a lasting shine, and mild steel for how nicely it takes bluing.
Whether or not aluminum will look good will depend on the rest of the knife. I can't imagine a feather damascus blade, mammoth handle, and recycled aluminum bolster...