Vinaigrettes are usually a ratio of one part vinegar to three parts oil.
Now you can add spices and herbs to that... usually some garlic, shallots or onions.
Any vinegar will work... balsamic usually has milder, sweeter flavors than other vinegars and good balsamic vinegar can be as expensive as any wine...
But there are a variety of vinegars to choose from...from champagne to blackberry wine vinegar.
Then the oil...from Olive oil to soybean. (Sesame oil is usually too strong flavored) or a blend of flavored oils and unflavored.
Now if you are making the vinaigrette and after you get your ratio adjust the flavor with sugar, water, or more oil. The sugar can come from onions, garlic, tomatoes or honey or whatever. Just note that some fruit (lemons or grapefruit for examples) has sugar but also acids like vinegar.
The flavor combinations are absolutely endless...all a matter of taste.
When mixing I find using a blender, food processor, or hand held blender work best and your vinaigrette will stay together without separating so quickly.
And if you include some things that contain lecithin (mustard, pine nuts, and etc) the emulsion won't break.