I have some cedar to carve for some toothy critters, but have yet to try it.
I have a basswood tree in my front yard and it puts out about 10 new shoots out of the base every year. This gives me plenty of knot free wood to carve. I love it!. it is so much more consistent than balsa, a bit denser, a bit tougher, and it sands great.
But Raven is right about cedar. It is so much more durable.