Having had some issues with keeping things straight when I first started rooting cuttings 3 years ago, this is how I now label my figs.
When I first receive cuttings the first thing I do is go the my inventory sheet and add a new number for this fig. I number the first one (example 223-1) If I have more than one cutting of the same fig, the second one would be (223-2) and so on. This number will follow this cutting all of it's life, no other plant will ever have this number. My next step is to write this number on the cutting with a white paint marker.

When I move it to a baggie to root, I put the number and name and date on the baggie. Once rooted and I move it to an inverted cup, this number, name, and date of the move is written on the cup.

When I move it up to a 1 gallon pot, again I write the number, name, and date of the move on the pot.

Once the tree is well established and I'm ready to plant it in the ground it or give it to someone, I put an aluminum tag on it.
The writing on the one gallon pot can be remove with a solvent and the pot used again.