It really does depend on the look you are going after. Sometimes a shirt yoke, cuffs and collar are done in contrasting colors to add a fashion sense to the garment. If it's a sweatshirt, use a fabric called ribbing for the cuffs and neckline in the same color as the main shirt. As you will be the designer...anything goes.
Depends if you want it matching or not, but they are usually interfaced (stabilised), as are the collars. Enjoy your break :)