Display Matrix Item Option Image & Pricing on Selection

Hello

We are trying to make a selected Matrix Child Item's image and pricing appear when it is selected from the drop-down menu (and eliminate the other options). We want the action to happen simultaneously (like this) with an "onclick" code.

Our 6mm Plastic Spiral Coils come in 43 colors (listed here); when you select "Red" from the drop-down menu, we would like a Red colored thumbnail to display. I came across two solutions to make the corresponding image display that involve Item Drilldown Templates and JQuery. (Trisha Companero's post)

However, our Bookmark Small pouches (another Matrix Item found here) have different pricing per Matrix Child Item that is currently lumping into one range, making the cheapest ones look expensive and the more expensive ones look cheaper.