Mike, I found the pic on this site so maybe the owner will chime in. I stumbled across it when I was building my teardrop and I try to snag photos of any unique idea whether it applies to me or not at the time. I think the guy actually worked at the shop which helps. I have friends who weld and I plan to pick up the trade as well.
I do believe it was steel and treated in some way for rust. If memory serves it was powder coated but I don't want to get to lyin. No idea what size, but personally I would think to defer to the original teardrops that used angle, but mixing aluminum and steel/iron isn't always wonderful so I was thinking using this as a blurry picture and sticking with the standardized cargo trailer construction method, just lightened up for a teardrop. i.e. Z or H posts might work great for a Tear while they might be considered "harbor freight" quality for cargo trailer quality. I would guess that going with a square tube, one would have excellent rigidity with 1/16 though...