The golf balls of today are no longer made with rubber band windings inside of a balata cover like when Palmer and Nicklaus started in golf.
These days most balls are a two piece ball consisting of a responsive core that offers low compression, low spin rate off of a driver and high spin off of a short iron shot. The outside cover is made up of a cut resistant material so that if you do not contact the ball squarely, you do not get what looked like a a smile on the cover like in the blatancy cover days.
Today's golf balls have progressed into having cores of titanium compounds, hybrid materials, softer shells and a more pressurized core. They usually consist of a two-, three-, or four-layer design, consisting of various synthetic materials like surly n or urethane blends. They are available in a great variety of playing characteristics to suit the needs of golfers of different proficiency.