Let’s take an in-depth look at how to create your own custom taxonomies in WordPress, including simple and advanced creation of taxonomies in WP.
WordPress’ custom taxonomies make it possible to structure large amounts of content in a logical, well-organized way. In WordPress, categories are set up as a hierarchical taxonomy, and tags are set up as a multifaceted taxonomy.
WordPress provides a new method of grouping content by allowing you to create your own custom taxonomies. The core developers have created the
register_taxonomy() function to handle the heavy lifting for us. All you have to do is understand how to configure all of the settings to suit your needs.
Here is the practical example of creating taxonomy in simple and advanced way. Adjust the snippets according to your needs.