The most natural POV is the first-person singular, since all stories and trials originate with someone, an "I" witnessing what happens. The telling of the story usually occurs after the events. We must distinguish between the author and the narrator, the narrator and the character.

First Person Multiple:

In the variation of the traditional, first person approach, you use several first-person narrators and alternate among them, usually beginning a new chapter with each change of narrator . . . It allows you to convey just as much as through an omniscient narrator, without the arrogance of the omniscient sound and with the advantage of diverse voices.

Since the same event means different things to different participants and observers, the event could be presented richly, without artificial extrapolation of what actually happened. Let the reader jump to conclusions and form an objective picture.

Pros:

• Least ambiguous
  
• Subjectivity is prevalent
  
• You can choose a voice most freely using slang, differences in diction without being limited to straight english
  
• Offers smooth access to character's thoughts without switching pronouns.

Cons:

• You can't see outside of your character (looks,etc) Mirrors should not be used.
  
• From first person POV faithful reproductions of diverse dialogues may be implausible.
  
• "I" telling the story implies "I" is still alive. Thus suspense of survival vanishes.
  
• It's hard to create a compelling new voice for each story.

Second-Person POV:
Like first person only with "you" instead of "I" (not recommended)

Third Person POV:
He, she, they; rather than first person "I.

Third-person Omniscient POV:
"The author knows everything about al the characters, places and events involved. Since not everything can be presented simultaneously, the author jumps from inside one head to another. The author will occasionally add tidbits about the world in general.

Third-person limited omniscient or third-person flexible POV:
"This combines the objective and subjective approaches. We not only see the character, but know what the character thinks.

Third person, subjective POV:
Resembles first person except usually it's done in standard English rather than character's voice. We have access to a person's thoughts and feelings, just as in first person.

Third-person objective POV:
We observe what our she is doing without entering her head, and we don't attribute the observation to another character. You don't reveal the viewer; in the same the way you don't see the person holding a camcorder.

Third-Person Multiple POV:
This sounds like omniscient POV, and the difference may be subtle, but it's best to see it as a series of third-person, limited POV's minus authorial intrusions. The narrative follows protagonist's POV, or shifts objectively to other characters.

Objective POV:
Objective POV does not focus on one person. From the limited objective POV, we can observe the action of two or more main characters.

Multiple POV:
The key to multiple POV is to make sure you start a new scene or new paragraph or new chapter with each viewpoint. Don't change in the middle of the paragraph. Scenes and Chapters are highly recommended. Also recommended; that you only go to other characters heads in the following situations:

• When a scene cannot give the full details that need to be expressed.
  
• When you have two or more protagonists and are bringing them together.
  
• Make each of equal importance. (do not favor one character over another.)
  
• There is no other way to see the anatagonist's motives from the protagonist's viewpoint:
  
• When the protagonist is not your main character/narrator.
  

You can combine POVs to create drama and interest.

There are many other POVs to explore. These are some of the most frequently employed.

Reference:
Fiction Writer's Workshop
ISBN 1-884910-03-3
17.99 HC
Writer's Digest