Extenders stretch the penis, hangers stretch the penis, pumps expand the penis and stretch it somewhat. I do not believe there has been any tests done where there were 1 group using only extenders, another only hangers and a third group that only used a pump, so one can not say for certain if one works better then the other.
From reading here and at other forums it seems like most people try everything during their careers since it seems that gains slow down dramatically for most people after the newbie gains. I have tried all three and have so far gained from the extender work and from the hanging. I will know tomorrow if I have gained from pumping but I have only been pumping for about 16 days or so.
If I were to give you advice it would be to get the vac-extender from autoextender.com . I usually do not recommend products that I have not tested my self, but I have tried vacuum hanging and using a vacuum device both on my extender and tied around my waist as a ads so I have a good idea of how it works. It can apparently be used as a light hanger, a extender (believe me, a vacuum attachment is much more comfortable then a silicone noose!) and as a ADS.
I am sure more people will chime in and give their advice.