I prefer leather (nylon is too slippery) and usually use the buckle. It’s less bulky. On the occasion where the buckle won’t line up with a hole, or I run out of holes and don’t want to punch a new one, I use the knot.
Tuffy makes a cinch with elastic. https://www.ehcampbelltrading.com/products/tuffy-shoulder-relief-cinch
It’s cheaply priced and I can so far give it rave reviews. And I don’t typically like neoprene, but this works well for my barrel of a mare. It’s super easy to clean and I’ve used it on trails with no rubs or other issues.
And I typically end up hopping down to tighten the cinch (which could be avoided if I took the time to walk and trot her before mounting.)