That carbon fiber inlay is sick, bro. I'm loving that!
If you wanted to play with a wood inlay, I'd suggest giving Lace wood a try. It is easily machinable and is almost similar to working with plastics, in my experience. It is absolutely beautiful if you just wax or varnish it with no stain. There are a few different variations in the grain pattern, so you might want to pick and choose if you have a wood working store near by. I made a box similar to this one for my wife and she absolutely loves it.
Here's another photo that shows a little variation in coloring and grain pattern. Like I said, it is a wood that I definitely enjoyed working with. I'm even thinking of using it to make handle scales for a straight razor in the future.