It appears I normally use 'utf8_unicode_ci'. However, I don't know if that is the best collation to use. I searched Magento StackExchange and was suprised I didn't see a question/answer on this topic, so thought I would post this to see if there is a consensus view on this question.
utf8_general_ci will work.
For explanations as to the differences between the two, consult
to find which will give you better results.