never had a badge, but i'd guess one of ther first two options... ?

ah ok :)
I think it's the easiest way to make the letters not look seperated from the image (given they are drawn with the same medium).

I'll take any option as long as the text is legible and part of the badges, aka, stickers laminated into badge, not stuck on top, hand writing clean and clear

I understand :D

I dont think there are any real rules to badge creation. If anything rules of thumb; namely being legible an conveying who and what someone is.

The hand drawn ones from what I can gather are made at cons on the fly and are essentially collectible paraphernalia.

Considering making one for myself as a starter cause Im gonna start going to meets soon.

This actually is a great help :)
i haven't attended any furry cons yet sadly so I didn't knew it is common to draw badges as live commissions. At all cons I have been to artists more likely sell character illustrations or sketches, also premade nerchandise such as buttons or stickers.
Also most people have a booklet or something similar to collect illustrations. Maybe that's a manga specific thing (which is far more common in germany) but I actually like the idea to create an "artbook" full of drawings of one's own character.

Thank you for the input! I hope you'll have lots of fun at cons :)