As in Django for the same field to do multiple values?

Good day!
I'm new, so don't be surprised if you see obvious mistakes in written.
Make the model of the goods in the online store. A product includes characteristics such as color or size, where there may be multiple values. I have 2 thoughts on how to do it:

1. To add to the model of the product and fill in as needed:
color1 = models.CharField(max_length=100, choices=ALL_COLORS, blank=True)
color2 = models.CharField(max_length=100, choices=ALL_COLORS, blank=True)

2. To do
colors = models.ManyToManyField(Color, verbose_name='colors')
And make in addition model of "Color" to make it work.

But the above is just a guess of a novice. The question is, how to do it properly?