3/32" dia. shanks are the jeweler's preferred standard for burs and small rotary tools. They fit the adjustable chucks found on most flexshaft handpieces as well as 3/32" handpiece collets.
Bud/Flame Burs have a gently curved taper that comes to a point. Similar to a cone bur, they are useful for tapering, enlarging holes, or repositioning holes, and for a variety of stone setting tasks.
Diamond Burs/Points are made from steel that has diamond particles permanently bonded to the outside. They are ideal for carving glass, stone, ceramic, and metal. They must be used with water or another lubricant.