Whats up SpecterVonBaren,
I'm a sound designer currently working on all the new sounds for Runes Reforged so I've been living in this space for a while, doing my best to create sound effects for the new Keystones that feel like they can live with Summoner Spells and be instantly recognizable when you hear them in game. I don't know exactly what was used to create all the summoner spells, but I have spent a ton of time analyzing them and trying to create sounds like them. I'll do my best to answer your questions!
So I'll start with answering your second question; what are you aiming for with how they sound:
- Clear Gameplay
- Iconic
- Badass sound
Hitting the gameplay is super important. The shape (envelope/ dynamics) of a sound, and the movement of frequencies over the course of a sound have a lot to do with what they mean when playing LoL. Am I making sound for something that happens instantly? Over time? Does it damage? Does it shield or heal? Sounds that start heavy and instantly are jarring on their own, which feels like damage a lot of the time. If the sound ramps up in volume, the sound feels smoother and more pleasant, which is perfect for heals. The motion of a sound's volume is just half the picture. The motion of frequencies in a sound also give different meaning. Something pitching up vs. down vs. staying the same imply different things, as well of the rate at which frequencies change (pitching up/ down) can imply different meanings - fast = aggressive, slow = mellow.
Let's talk about Flash. I just had to make my own version of this spell for one of the new Runes in the inspiration Style, I think it's called Hextech Flashtraption or something along those lines. This Rune lets you flash after charging it for a few seconds. We have a whooshy whippy charge up made from filtering and resampling white noise and running it through ton of effects, then a big hit that sounds like regular flash. Flash happens instantly. The sound opens with a full scale burst of all frequencies hitting at the same time, that is as loud as digital audio will let us make it. It's followed up by downward frequency movement in the bass and low midrange to make it feel like it has a ton of weight to it. The raw audio in it started as explosions run through effects, then edited to take maybe just the very front 50 milliseconds of the explosion to give a bunch of punch, then more layers after that to give the sound motion.
All the motion in a sound is what makes a sound recognizable, then hopefully over time, iconic. Let me sound nerd out some more - Humans can hear from 20 Hz to 20,000 Hz. We are most sensitive to frequencies in the middle of this, since that's where the tone of voices live and that's something everyone makes use of everyday. Alarming sounds like babies crying happen around 3500-4000 Hz, so naturally people are sensitive to this range. We can apply this to when we make sounds - Make sounds with tonality in the range of human voice, and avoid the harsh stuff, unless the sound needs to be alarming! Teleport, Baron recall, Ignite, Ghost etc. all have tonal sounds in the mid range where we'd normally hear people's voices. Our ears will naturally hear these parts of the sound more, so when it's paired with visuals, the brain connects it all together, and overtime it becomes iconic. Super interesting for me personally.
So with all this info, you can figure out what a sound needs to be when you're making it. Teleport sound should ramp up in pitch volume and motion over time to create excitement. Flash needs to be quick, powerful, and ramp down to hit the gameplay. That matchstick in Ignite works because everyone knows what that sounds like - add some more motion and whippy fire to it and it becomes really recognizable. Ghost makes you move quicker, so something pitching up works well, then some whooshy wind to signify speed. Barrier needs to feel protective, so it has a quick heavy ramp up, followed by a high tone and low bass, with none of the middle frequencies being used, so you feel enveloped in the sound, like there is something safe around you.
As far as what they are - that's sorta tricky to answer. Lots of synths and recorded sounds (fire, wind, explosions, etc.) but they aren't recognizable; it doesn't really matter since they were all heavily processed and layered to create the summoner spells. All that really matters about the source is the motion that the sound has and if that achieves what you need to know from the gameplay.
I could definitely write more about how we make sounds, but it's pretty much the same techniques, just using different source material that we create or record. If you are interested in this stuff, start looking up youtube tutorials about music production! That's where I got started and it's a ton of fun.
Let me know if I can clarify anything!