My favorite golf towel is from the Marriot.
One end is wet the other dry. I wrap it through a bar on the cart. Works like a champ.
I think any towel will do. But there are certainly a lot of towels at golf stores that wants you to spend over $30 for them. Unless you can use them for something other than wiping your clubs, they're not worth it. That said, I scored a iGotcha towel for free last week from RockBottomGolf.com that doubles as a rain hood. It definitely was worth $5 shipping but that's about it.
club glove towel is the best. I love it because it holds water better and doesn't dry out as fast. It is also good because it has a waffle design that gets in the grooves a lot better then a regular towel. If you have money, get it. If you don't, just get an old towel you already own.
Club Glove towel is the way to go, you don't even need a scrubber to clean the grooves.