LOL, I was wondering when someone was going to mention the old pantyhose trick. I don't fish with chicken livers anymore (because I don't like the mess in my boat) but I still have a peice of hose in my taclebox from years of fishing with livers. Just cut out about a 2 inch square, wrap your liver in it, tie the top of the bundle off with a peice of fishing line, hook it and fish all day with it if the fish aren't biting. It's a hell of a lot cheaper than buying those mesh bags and definitly cuts down on the amount of liver you will go through.
As far as my favorites, I like bluegill cut with the guts hanging but here in the last month I have been having more luck with just plain old nite crawlers. I always have at least 2 lines out, I fish both with a nite crawler untill I catch a bluegill for bait then I will continue to fish one with a crawler, 1 with a bluegill. My cousin was telling me of a new technique I am planning on trying, chuming with tender vitals cat treats (chicken or liver flavor) another cousin told me dog food works for chum as well, just spread it out around your fishing area. I am looking foreward to trying it out.