Product Attributes are used to associate certain features to a product. You must create product attribute fields in the Product Attribute Value object to represent an attribute. These attribute fields are then associated to a product through attribute groups.
To Create a Product Attribute Field
Go to Setup > App Setup > Create > Objects.
On the Custom Objects page, scroll down and select the Product Attribute Value object.
Scroll down to the Custom Fields & Relationships related list, and click New. You will be directed to the standard Salesforce field creation wizard.
Use the wizard to create a product attribute field, set up field dependencies, define workflow rules, line item validation rules, defaults, and more.
The Product Attribute field is created.
The next step is to create an Attribute Group and associate the product attribute field you created to the attribute group.