Most important thing is that you need the master pubkey (also called extended public key) of every cosigner.

So 2of3 only means you need 2 of 3 keys for signing (which are derived from the seed words). But you still need to know all master pubkeys.

There are three different formats so far: xpub, ypub and zpub. They generate addresses in different formats.

But afaik, xpub is enough and can be converted into the other formats. At least Sparrow wallet was able to.

While setting up my own multisig cold storage wallet, I created a LaTeX template.