The Noise (Texture) procedural texture is very similar to the stock noise texture in the textures library, and it allows you to simulate ripples in glass and liquid materials when used as bump.
Colors 1 and 2
The noise procedural has light and dark colors that you can modify using these two settings.
Scale
This controls the scale of the noise.
Magnitude
This increases the intensity of color 2 and the contrast between the two colors.