Hi Giraffee666,
To be a good insulator, the material needs to be able to slow down heat transfer in various ways.
3 ways in which heat can be transferred are:
Convection which is the transfer of heat by the movement of matter
Conduction which is the transfer of energy through matter from particle to particle
Radiation which is the transfer of heat through space
Some examples of good insulators are ceramics and materials with a lot of air pockets such as Styrofoam and wool because they trap warm air inside them. These materials should be able to help insulate both hot objects and cold objects.
Your second and third questions go hand in hand, because room temperature can affect insulation. The greater the temperature difference between two objects, the faster the heat transfer between them. For example, pouring boiling water onto an ice cube will melt the ice cube much faster than room temperature water. This works for insulators as well, because they just slow down heat transfer.
If you want some additional information, these might be some helpful links:
http://www.mansfieldct.org/schools/mms/ ... ondrad.htm
http://www.scienceprojectideas.co.uk/ke ... ction.html
You should also check out some science buddies porjects for some other good ideas for insulators.
https://www.sciencebuddies.org/science- ... ml#summary
Great questions and good luck with your project!
If you have anymore questions don't hesitate to ask me, my name is Stephen.