OK here is what I would do.
I would set up four tables as follows:-
PRODUCTS
PRD_ID - primary key
PRD_NAME
PRD_DESC
COLOURS
COL_ID - primary key
COL_SHADE
SIZES
SIZ_ID - primary key
SIZ_SIZE
PRODUCT_VARIATIONS
PRV_ID - primary key
PRV_PRD_ID - foreign key link to PRODUCTS
PRV_COL_ID - foreign key link to COLOURS
PRV_SIZ_ID - foreign key link to SIZES
PRV_PRICE
The first three tables are simple self explanatory tables, the fourth is a three way intersection table allowing you to dscribe which products are available in which size and colour combinations with a unique price for each of these.
All the tables above have a numeric primary key which I usually make system generated (if the database you are using supports this) and it is these ID values that are linked in the intersection table. The main reason for doing this is that it is very easy to change a product name for instance as it is not repeated in other tables as a foreign key link.
Note that some web databases don't support embedded foreign keys (e.g. MySQL), but you can still use them and maintain the integrity of the database via your application.
Hope this helps.
chrber.