Drainage is vital to the long-term vitality of succulents in a bonsai planter. Don't use any container that lacks at least one drainage hole on the bottom. Use a sand-based potting mix, not topsoil, in the bonsai planter. Commercial mixes, usually sold as cacti and succulent potting soil, are ideal, but any peat-based potting mix will suffice if it't crumbly and contains sand, perlite or grit to improve drainage. If the planter is made of metal and placed in full sun, the plants will endure hotter soil conditions as compared to a wooden planter. Sunnier, hotter locations may require more peat than sand in the potting mix.
A succulent is any plant with fleshy, plump stems or leaves that contain and retain moisture. All cacti are succulents, but not all succulents are cacti. The best succulent plants for a bonsai planter are those that lack vicious spines, grow slowly and mature to a small size, perhaps no larger than 12 inches at maturity. Depending on your climate, select plants hardy to your winter's temperatures. Hardy succulents can remain outdoors, while tender or tropical succulents will be killed once the temperature drops below 32 degrees Fahrenheit.
Hardy succulents, best used in a bonsai planter left outside in USDA Plant Hardiness zones 4 through 9 include hens-and-chicks (Sempervivum spp.), creeping stonecrops (Sedum spp.), dwarf yucca and dwarf spineless prickly pears (Opuntia spp.). Tropical areas, USDA zones 10 and warmer, have a much larger array of succulents to choose from, including tropical hens-and-chicks (Echeveria spp.), aloes, jade plant (Crassula ovata), desert rose (Adenium obesum) and elephant bush (Portulacaria afra).
While it's tempting to back every square inch of soil in the bonsai planter with a succulent, this causes a visual mess and a need for replanting in one or two years because of overcrowding and competition. Choose one larger succulent as the main anchoring accent and surround it with trailing or smaller companion plants with contrasting leaf texture or size. Bare space between different plants is fine, and the soil can be covered with sand or pea gravel to complete the planter.