You can use select or radio.
You would need to add the single-option field first and assign it to products from the field itself (which is a little weird).
Then you can set the prices while editing the product. If you have multiple options, you need to set the combined price. You can’t just set an additional price for the option. So, if you have a 3 colors and 4 sizes, you need to set the price for each possible combination.