Hello,
First of all thanks for choosing our Theme, we are glad to be you in the WoodMart WordPress family :-).
You need to create a variable product to add color variations to it. Then you need to assign prices to each variation from the edit product.
You can watch the video in our detailed documentation for further help:
https://xtemos.com/docs/woodmart/woocommerce-tutorials/variable-product/
Then you need to set the swatches to display from Products >> Attributes >> Edit attribute >> Edit item.
Screenshot for Clarification: https://ibb.co/3vBcC9D
You can read our detailed documentation for further help:
https://xtemos.com/docs/woodmart/variable-products-swatches/
Best Regard.
.
