I am looking into make a product that has what I would describe as variable attributes.
For example, if I am selling a t-shirt - the large size would be in blue, but the medium size would be in red.
Any hints/breadcrumbs would be appreciated.
Try going under the actual product itself (from the menu on the right click products) then click the product you wish to edit (the t shirt for instance)
Below that you should see a list of tabs under Product Data
Variations should be one of them. You can define them to your hearts content.
Hope that helps!