Hi,
The fabric and color selection can be done by using characteristics.
One characteristic for colors, one for fabric with their values. You can create them via the menu Products->Characteristics.
Then, you can attach the characteristics to your product.
That will display a dropdown selection for each. So you want then to change the option "Characteristics selection method" to radio button in order to get radio buttons.
Now, by default, you won't have images displayed for the selection of characteristics as their is no option for that. If you want to do it, you will have to override the characteristic generation code via a file in your template. It requires a good knowledge of PHP. That's something we can do for a small fee if you want.
For the name/initial input, you can create custom fields of the table "item" via the menu Display->Custom fields in the Business edition of HikaShop.