Recent developments in low-power communication and signal processing technologies have led to the extensive implementation of wireless sensor networks (WSNs). In a WSN environment, cluster formation and cluster head (CH) selection consume significant energy. Typically, the CH is chosen probabilistically, without considering the real-time factors such as the remaining energy, number of clusters, distance, location, and number of functional nodes to boost network lifetime. Based on the real-time issues, different strategies must be incorporated to design a generic protocol suited for applications such as environment and health monitoring, animal tracking, and home automation. Elementary protocols such as LEACH and centralized-LEACH are well proven, but gradually limitations evolved due to increasing desire and need for proper modification over time. Since the selection of CHs has always been an important criterion for clustered networks, this paper overviews the modifications in the threshold value of CH selection in the network. With the evolution of bio-inspired algorithms, the CH selection has also been enhanced considering the behavior of the network. This paper includes a brief description of LEACH-based and bio-inspired protocols, their pros and cons, assumptions, and the criteria of CH selection. Finally, the performance factors such as longevity, scalability, and packet delivery ratio of various protocols are compared and discussed.