The Suspension is made up of the gear that you use to connect from hammock to the tree. The first pice is a set of tree strap...wide (minimum 1") webbing straps that help to distribute the load over a larger area than a rope would. This protects the growth layers in the tree from being crushed. Then there are a number of ways to connect from there to the hammock.
The Hammock is a bit self-explanatory but there are lots of options out there. Most will be some sort of modern nylon material...ripstop or otherwise that make up the hammock bed itself. There are some really short hammocks that I would receive avoiding. Most folks feel at least 10 foot and many go to 11 foot long as being the standard size for a camping hammock. The short 9 foot and below are more novelty or day loungers rather than full camping. Comfort is the idea.
Insulation is made up of 2 components in basic terms. Topside (could be your old sleeping bag) and underside. On the ground a pad makes up your underside normally, in the air they don't work as well. They distort the feel of the hammock defeating the comfort reason for using a hammock in the first place. Most go to an Underquilt. They attach below the hammock, tight up against it, to insulate you from convective cooling...something that is not a factor on the ground. And then a Top Quilt for the top side. Top Quilts are easier to get in and out of than a sleeping bag and save weight as they are basically a bag with the back and zipper cut out. With you sandwiched between an under Quilt and Top Quilt you get 360° of insulation all while floating above the ground in your hammock.
The Tarp is the most important part, as it's your shelter. It's the last thing most folks think about and often spend the least on, but it's the most critical part. If all else fails you need your tarp more than anything to keep you out of the wind and rain/snow. Hammock campers are really just elevated tarp campers. And a Tarp provides a lot of advantages too. Tarps are less prone to condensation, you get more fresh air, you can pitch them in a number of ways including with the sides elevated to allow a view out, lower weight and bulk than most tents and as a shelter when not in your hammock....ever stop for lunch in the rain? Pitching your tarp as a temporary lean to only takes a moment.
Still feeling overwhelmed? That's ok, there is a good bit to learn to get started hammock camping. The good news is we are here to help you through the learning curve. Here are Arrowhead-Equipment.com we can work with you to get any component you might need or all of them. Check out our complete Beginner Hammock Camping Kits as an option to get you started. And if you have any questions at all we are here to help. Send us an email and we will work to help in any way possible.