How do I create individual fields on a node? I would like to use individual Taxonomy fields on a node - not a preconfigured Content Type. e.g.


Color: Red  
Year: 2015  
Project details: Short description.


This is just working fine with the Core Field Module. The downside of it is that it's preconfigured on the Content Type. Users can’t add more fields to a node. I need more flexibility. E.g: Thus, I am using a text field with unlimited Number of values. 

Example with Core Text Fields


However I am missing Taxonomy’s term reference feature: People have to type in all data on every node. I hope this makes sense. I’ve created a quick mockup to show what I am looking for. I would love to define individual description and Taxonomy terms.


What’s the best way to get full flexibility?
Have a look at my answer to "How to add new data to a predefined list?", which describes what you can do with the Select (or other) module.

In your case, you could use that module also to define 2 fields, which I'd label something like so (or anything else you'd prefer):


Attribute (with values like Material, Color, Year, ...).
Value (with values like Plastic, Red, 2015, ...).


Obviously, if "I" would then want to add like "Taste = Sweet", I'd just have to add "Taste" to the 1st field, and "Sweet" to the 2nd field.

Sweet enough?