First things first: SS Cygni is categorized as a lot of different things, including a cataclysmic variable star, U Geminorum type dwarf star, and dwarf nova. As a cataclysmic variable star, it will eventually trigger a Type Ia supernova. SS Cygni is a binary system consisting of a white dwarf and a red dwarf that are so close together that one revolutionary period is only a little over six and a half hours long.
Throughout its rotations, the white dwarf will accrete matter from its companion, a common characteristic of dwarf novas. These white dwarfs are also involved in periodic outbursts in which the luminosity will increases due to instability in the accretion disk, every seven to eight weeks in this case.
When the mass of the white dwarf is close enough to or over the Chandrasekhar limit (1.4 solar masses), runaway carbon fusion will occur and lead to a spectacular (yet morbid) display of colors.