Magento : How to get product custom option value programmatically

Magento has the power to define product variations (custom options) with each product, which allow your online customers to select an specific product from wide range of option available with each product,
Custom options are a good solution if your inventory needs are simple and you have a limited number of available SKUs.


[php]
$product = Mage::getModel("catalog/product")->load(1); //product id 1
$i = 1;
echo "<pre>";
foreach ($product->getOptions() as $o) {
echo "<strong>Custom Option:" . $i . "</strong><br/>";
echo "Custom Option TITLE: " . $o->getTitle() . "<br/>"; //Colors
echo "Custom Option TYPE: " . $o->getType() . "<br/>"; //drop_down
echo "Custom Option Values: <br/>";
$values = $o->getValues();
foreach ($values as $v) {
print_r($v->getData());
}
$i++;
echo "<br/>";
}
[/php]

Hope It helps.
Happy coding