Product options are variable selections of certain products offered to customers.
For instance, a customer wants to buy an extra-large, red sweater from a clothing business. That sweater has two product options associated with it: size and color.
Two product options would be created in this example. One would govern all the different sizes offered, the other would govern the different colors. 2CO has a method which allows you to set up options like these.
The number of options you can have for a product is unlimited.