API Versioning: Which strategy is your favorite and why?

Hey everyone, I've been thinking a lot about API versioning lately, especially as our services grow and change. We've used URL path versioning (v1, v2) for a while, but it feels a bit clunky. What are your favorite strategies for managing API versions? Are you using query parameters, custom headers, or something else entirely? What are the pros and cons you've experienced with each, and what makes one approach stand out for you?