Myself, I use two chains with locking hooks. set them opposite sides of the log, and cut deep (6") notches in the top of the log to sit them in. That way, I get no tipping, and if you tension them first, the chains will 'bite' into the wood far better than a sling.
Have used tongs for lifting off the ground, but not for lifting out of a tree. They seem to work well, and I'd trust them 95% of the time.....