Zend certified PHP/Magento developer

Best Way To Achieve Configurable Product? Is This A Configurable Product?

Maybe configurable product is not the appropriate term, but I’m looking to provide different product options that will dynamically update the URL/SKU/Price. I’ve included a perfect example below of what we’re trying to achieve. If it can be done OOTB, great – if it has to be an extension, that’s fine – I just can’t seem to find what I’m looking for.

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Website of example shown

When you select the different options, the Item/SKU updates, the pricing updates and the URL changes. Ideally, we would have two simple products – but on each simple product you could select the other version, like the image above. Any insight would be greatly appreciated!