The depletion region in an unbiased semiconductor diode is formed due to the diffusion of electrons and holes. In this region, the free electrons from the n-type region recombine with holes from the p-type region. This process leaves behind a region that is depleted of free charge carriers, meaning there are neither free electrons nor holes in this area. The region contains immobile ionized donor and acceptor ions.
Thus, the depletion region consists of neither free electrons nor holes.
Therefore, the correct answer is (B) neither free electrons nor holes.