With the BDS-3 six-frequency integration, there are more choices to implement the precise point positioning (PPP) technology. To take full advantage of the multi-frequency combination, six typical BDS-3 six-frequency PPP models using uncombined observation (UC), five dual-frequency ionospheric-free (IF) combinations (IF2), four triple-frequency IF combinations (IF3), three four-frequency IF combinations (IF4), two five-frequency IF combinations (IF5), and a single six-frequency IF combination (IF6) were constructed and compared. The results indicate that the positioning accuracies of the six models are similar. The static positioning accuracies reach 4, 3–5, and 12–14 mm in the east, north, and up directions, respectively, while the kinematic positioning accuracies are 24–26, 16–17, and 42–43 mm, respectively. Regarding the convergence times, the UC model is slightly worse than the five IF combined models, except for some cases in the up direction. In the static mode, benefiting from the smallest noise amplification factor, the average convergence times of the IF6 model are the shortest, reaching 12.1, 5.5, and 13.4 min in the three directions, respectively, and are 7%, 15%, and 6% shorter than those of the UC model. In the kinematic mode, with the combination of more signals into a single IF combination, the noise level of the IF combined observables gradually decreases, but the convergence times gradually increase. The kinematic average convergence times of the IF2 model are 15.3, 3.6, and 18.0 min in the three directions, which are 6%, 22%, and 10% and 1%, 16%, and 20% shorter than those of the UC and IF6 models, respectively. In addition, the observation residuals, and the estimates of inter-frequency bias, tropospheric zenith wet delay, and receiver clock offsets from different models were compared and analyzed. The specific selection of the model should be based on actual situations.