The Ribbon Workbench for Dynamics 365 is a tool developed by MVP Scott Durow to simplify the manipulations on the CRM Ribbon. It comes with a rich GUI that offer all the possible options regarding Ribbon modifications.
Option sets are a list of choices that are displayed by using a drop-down menu during data entry. Option sets help streamline new record creation and standardize data entry, and they are best suited for a small set of standard short terms rather than long list of complex entries.