1. The condition of being spotted or streaked; the variation in colouring: Meg added some variegation to the painting of the forest by adding diverse greens.

At the garden center, Mrs. Tree admired the variegation in the leaves and flowers of the different plants on display.
2. The action of presenting an assortment of goods or services; diversification: Jill's financial advisor suggested that variegation in her investments would be a very good idea in order to reduce possible loses.