In Shopify, a product variant is a version of a product that has specific attributes, such as size, color, material, etc. Variants allow you to sell a single product in multiple forms, helping customers choose the exact option they want.
Note : Variants are based on options, which are characteristics of the product (e.g., size, color). Each product can have up to 3 options (e.g., Size, Color, Material).
Go to the dashboard Panel : Navigate to Products > Select your product.
Enable Variants : You can add variants by clicking the Plus symbol options available in the bottom of the product like variant you can also add another using (add another option)
For variant title you can add products variant like(Size ,colour, material or any think else that you need)
Add Options : Define options like Size or Color and their values
For the variant list you may add in option values (eg:S,XL,XXL,XXXL,M)(Blue, Black brown)