Auto add product attribute to existing products

[djblairq]

Ok,  so here's an example.     I'm selling a hula-hoop that uses a colored grip tape, and a colored vinyl tape.    Lets say that I have 10 grip tape colors and 10 vinyl colors at the time that I add the custom hoop to the product list.      As time goes by I'll find more colors to add to my collection.  Id like to have the 10 grip and 10 vinyl color attributes automatically update with the new colors when I add them to the attribute list.   Because I may have  20 different hula-hoops on the product list and I don't want to have to go to each one and manually add in each new color.  

 

Is this possible?