Can a product be the Product Options Variant?

I sell Custom tinted Paint. Let’s say for example I have 5 Products with 2,500+ colors to choose from. All of the 2,500 + Colors are entered as products and contain a jpeg of the color. Sometimes a nice little description. When you view a gallon of paint you’ll see a dropdown box. Here to can type the color name or its number. Thus pull the text and JPEG (In a small thumbnail) for your visual pleasure. Does any app out of the box have the ability to pull “options” from a tag? IE “Color Swatch” to populate the options list?

Hi , do you want something like this : https://www.glidden.com/products/interior-paint-and-exterior-paint/glidden-premium-interior-exterior-paint-1 ?
How about using 2 products ? 1 for type of product and 1 for colors list. With this Idea 1 product with color list variant can use in several product. So when a user order 1 paint they will get 2 product in cart. To implement this in product is not too hard.
What do you think?