On my hunting bow for this year I wanted it to bend through the handle. I used a thin ERC slat on the belly and leather on the back to fill out the handle. I like a small bulbous handle that I can feel bend right at full draw.
I've used the multi lam method a few different times. Lighter weight woods would probably work best. I have used cherry, black walnut, hickory, red oak and others. If you use 3 or 4 strips of graduating lengths and glue them up in a stack for the riser then shaped it will usually flex a bit but it might not always be successful. The amount of bend will determine that.