Galvanized wire is really inexpensive and available at most hardware stores. While you could use nicer wire, like sterling, I prefer to use galvanized because its silver in color (though duller than sterling) and wont tarnish like sterling will. Remember, with hooks and their ornaments you tend to just leave them packed up for most of the year, so by the following year, sterling hooks would be tarnished for sure.
I dont recommend using your good wire cutters with this wire. Go sneak out into the garage and borrow wire cutters. You dont want to mare your good cutters by using them on galvanized wire.
You dont have to have acrylic beads (as youll see soon), but they add a nice touch if you want to jazz up your hooks.