I like the DeSantis Cocked & Locked. It's a nice OWB leather holster, that has a thumb break. You can carry your 1911 with the hammer back/safety on, and the thumb break engaged. Use a bit of the Galco holster lube/conditioner, and it's a super smooth draw.
I don't know about you, but for open carry, I prefer some method of retention. I've typically bought Galco holsters (and I have an open top for my 1911), but the Galco offering with a thumb break requires the hammer to be down.
Cocked & Locked Thumb Break Scabbard — DeSantis Holster
If you shop around, you can find it for about $50:
DeSantis Cocked & Locked Leather Thumb Break Scabbard NOW AVAILABLE!
I use a Garrett Industries Silent Thunder STX when I OC my 1911. It's got a Kydex body but it's lined in leather. Garrett does a really good job finishing their Kydex and the holster is adjustable for retention with screws on the front.
Most Concealable OWB Holster | Silent Thunder STX Kydex and Leather | Garrett Holsters
Kirkpatrick texas strongside ftw!
+1 on Blackhawk