Degradable downhole tools, tool components, and balls are formed from a processed polyvinyl alcohol (PVA) compound that is degradable in a high-salinity environment. The PVA compound exhibits strength and elasticity properties that are comparable to existing degradable downhole polymers and further exhibits degradability properties that are superior to existing degradable downhole polymers, particularly in high-salinity fluids. For different components, the PVA compound may include a reinforcing material such as fiberglass. The PVA compound also includes a loading of degradable metal, such as a degradable magnesium alloy, rendering the material degradable at high salinity. Usage of tools, tool components, and balls formed from the disclosed materials eliminates the requirement that such equipment be drilled out after use as the PVA compound quickly degrades in high-salinity downhole fluids.