People use all sorts of crap, and some of it is useless.
Materials are rated with a sound absorption coefficent, 1 being perfect absorbtion.
Of course, materials are more and less absorbant at different frequencies.
In short, nothing you can obtain for you house will absorb much below 250hz.
The best matrial for you is, rockwool, sometimes called mineral fiber, or Owens Corning type 700 insulation.
I forget the exact naming convention, but basically 703 is 3" thick. 702 is 2" thick.
Typically people cover this stuff with fabric because it looks better and protects you from the itchy material.
Obviously, you have to cover it with fabric which lets the sound through, otherwise, the fabric will reflect the sound. Imagine covering a sponge with plastic wrap. got it?
So, what fabric do people use?
The top of the line is made by guilford of maine.
If you want somethign less expensive, try to get swimsuit fabric.
The really expensive pre-made panels you will find are Owens Corning type 700 fiberglass covered with Guilford of Maine material.