Adding a taxonomy field to a Product for Attributes
There is a great explanation of Product Attributes in the general User Guide.
The following will help you understand how to use taxonomy on Product Variations to get a simple drop down to show up on your Add to Cart pages.
Prior to continuing with this example, it assumed you have already created a vocabulary of taxonomy terms to be used for your products. For our example below, we will be using a taxonomy term list for size of tshirt.