So I was able to figure out part of it. I added the attributes by going to:
Products > Attributes
Creating a new attribute.
Then clicking on 'Configure terms' to add my terms.
On the actual product page, under 'Product data --' set to 'Variable product'
Under the 'Attributes' tab - add the product attribute, add the values, select 'Used for variations'
click save
Under the 'Variations' tab you are able to set additional attributes (stock, cost, weight, etc)
This adds a select list, under the attributes tab i've tried to change the type to different things but I still get a select list. How can I get it to look like your demo and show the different colors/buttons/etc.
Thanks!!