To use Product variation swatches feature, you need to install and activate the Insight Swatches plugin.
From the Dashboard, go to Insight Core > Plugins > Install & Activate Insight Swatches.
Step 1: From the Dashboard, navigate to Products > Attributes
Step 2: Fill in the Attribute name (such as Size, Color, Image, etc)
For example, you want to add color attribute to the product then fill in “Color” in “Name” field.

Step 3: You can determines how this attribute's values are displayed with Type
You can display your attribute in 3 types:
Step 4: Hit Add attribute when you’re done. Now click on Configure terms link to add new terms to the attribute. Here you’ll see the new field shows up.

Note: To change how your variation display, from Attributes, click Edit the Attribute you've just created > Select Type > Update