Item options: (Color|Material) Picker

[Squintz]

I am going to be selling furniture which is offered in differnt colors and materials for the same style. Instead of listing each style and color seperately I would like to add a option where the customer can select from a group of radio buttons. Is there a contribution out there that already does this. If not can someone tell me what it would take. What tables would i need to add fields to and what php files woul I need to look into editing. Not every product needs these extra options so a contribution that would allow me to add an option with a small image next to each radio button and some text for the group would be nice.