[Feature Request]: Add color selection component

[AkashPaloju]

Is your feature request related to a problem? Please describe.

We need a color selection component to upload images when adding a product

Describe the solution you'd like

Add the component according to this figma

https://www.figma.com/design/5Hs4DlvyJJWjQB9K7Fh0CY/Getit?node-id=1335-751&t=zvceiaocLViVgFF6-0

The selection dropdown should open on clicking "+" icon and "Add" button should add the selected color to the list.
We allow only 2 formats for color selection one is "hexcode"(like #000000, #FFFFFF) and other is name (like blue,red ...)

Note: The parent component will receive all data from the backend and pass it to this child component. This child component does not interact directly with the backend.

Describe alternatives you've considered

No response

Developer Notes

List the component's "props" you create and explain how data communication occurs between the component and its parent component