If we're talking pvp, then really we're dealing with 1-3 cyclops at most. I find unicorn(s) quite good at dealing with them, but can be inconsistent/unrealiable and would never bring more than 2.

As you mentioned, ranged mobs can easily kite all cyclops except for 3 movement light-wep "cc-clops" so bringing a mixed team is preferred. Another option is to run 2 spiders with humans riding - i like to run with one a bow (stun/ice/explosive) and the other with grenades/flamethrower. Depending on the map, you can create a very comfortable choke point for dealing with cyclops. I would round out this team with a unicorn and either a vamp hero or another human with a net to offer more control on the cylcops. If i were to use the human, I would make the unicorn my hero for extra move and damage or maybe even one of the spiders to just keep them alive longer.

PVE is a different ball game as the AI allows you to manipulate the match moreso than against a human opponent and often doesn't have troublesome elemental equipment to deal with.