After chewing over the best way to set up a webstore using Magento, regarding configurable products, I continued my search on google, vowing not to give up until I found the answers I was looking for. Well, I found the answers, some more questions, and more answers, so right away had to share the article on here…

Overview of Complex Products
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Here is another handy tutorial about creating configurable products within Magento that I found really helpful
When adding products to a Magento store, many times you will have different variants of one product each of which you wish to track inventory for. Magento provides a way to do this using configurable products. Setting up configurable products in Magento [...]

A simple tutorial I found on Youtube for creating configurable products in Magento.
A quick video tutorial on setting up different options for a product, in this example we have a t-shirt which we give four different colour options (or attributes)
http://youtu.be/DK6LIBBxepk