Other Item Stats

I was wondering is there was a way to track other stats for items, like what I'm trying to work on now are tools that in the description of them, it lists other attributes like, what type it is, and what it can do. And I was wondering how I could do that, like to have 1 tool able to have different elements like the same tool being able to control fire or water, and it would tell you in its description which one it was.