The Photoshop brush tools preset picker is a great feature to quickly navigate around the toolbar and settings. It is a great way to access all your favourite features in seconds without having to search for a particular stroke / setting
Select a brush tool such as paint or clone or art history or smudge or pencil etc. Select a dab shape and select a blending mode such as difference or exclusion or darken etc. Set a color for your stroke and goto the window menu and brush
Set spacing, perhaps set it close to the minimum for a very close dab design or set to the maximum to spread out the dabs. Set hue jitter in color dynamic section as well as other settings such as scattering and dual and texture etc.
Go to the far left of the control bar and Right side menu and select the New tool preset. Give it a name and press OK (and now you can access this tool in seconds and all the settings will be restored along with the dab and color and spacing and blend and opacity etc)
The preset for the tool can also save the color (if the color is set at the time). Personally, I rarely do that but it can be useful sometimes if you want a particular effect to be generated via the this selection such as a blue / black etc stroke
The current tool only option is available. This is useful if you wish to only see the tools that are relevant to the tool that you are using. If you have 100 tool presets added and some are for the gradient tool and some are for the brush tool, it may be easier to set the 'current tool only' to ON and then you will only see the presets for the current one. If you want quick access to all of them, just leave it as OFF and then clicking on the entry will take you straight away to the required such as gradient or shape etc