Normally you'll want something that'll keep your hair out of your face. Either some version of a half pony tail or a full pony tail. When I did cheer competitions, it typically was curled pony tails. But if you want to do something different, you can do mini braids into a pony tail or half tail.
Honestly though the most cohesive thing to make you look like a team is to do something that everybody can manage. (Our teams always did a pony tail with the same 1 or 2 team colored ribbons.)
Here's a couple pictures of more unique hairstyles I found that could work for cheering:


From princesshairstyles gallery