I started out on guitar, and though I'm primarily a bass-player, I sometimes get a call to double on guitar - like in my current project, where I alternate on rhythm guitar. In addition to my collection of basses (see my gear page), to fill this role, I use the following guitars:
Martin D-18 - my mother gave me this for my 16th birthday in 1970.
Fender Acoustic 12-string - it gives me a really nice 60s jangle sound.
Fender Nashville Telecaster - it has a Stratocaster pickup in the middle position. Everybody needs one of these.
Epiphone Emperor Regent - a beautiful, "big-box" jazz guitar, for sweet, mellow jazz sound.
Gibson Les Paul Special - a wonderful P-90 sound, great feel, and classy looks.
Heritage H535 - a great workhorse electric guitar.
Of course, one of the major problems with switch-hitting is having to haul twice the gear around. If you're switching off with someone else on the same instruments, try making a deal where one of you brings all the guitar stuff, and the other handles all the bass stuff. This will work unless either of you has a favorite instrument that you have to bring and/or can't stand anyone else touching....