Variant workflow. Use the Component builder + Geo Variants to build some variants. You'll use the Component Material node to create the mat variants, then packaged them out with the component output. Bake this as a USD.
Load your cached out USD. Attach an "explore variants" node and set the mode to explore. Set spacing to zero so they're all at the origin.
Then plug it into an Instancer. Specify the primitives you want to prototype (use in instancer). Make sure you UNTICK "Only Copy Specified Prototype Primitives". The rest is as normal (eg make some points inside the instancer and give it an index attribute).
Now all of your variants are in play.
This seems a bit longwinded, but I guess it does work and fits within a pipeline a bit nicer? It also works nicely with the variant systems that exist in Houdini/Solaris.
BONUS - if instead of using the Instancer in "Point Instancer" mode, you use "Instanceable Reference", you gain access to each and every instance. If you do this, you can actually use the Set Variant nodes to change particular instances, eg. you switch one of them to be a pig and make it red instead of green. Performance does take quite a big hit if you do this though.
