Magento – Front end view for Custom Options

I have used the the link for create a extension to add Custom Options in the admin. Now it works in admin part, But when i create the custom view part for product, it did not work for me. First thing i cant understand where i add the bellow code in my config.xml file.

<catalog_product_view>
    <reference name="product.info.options">
        <action method="addOptionRenderer">
            <type>instagramimage</type>
            <block>webtoprint/catalog_product_view_options_type_instagramimage</block>
            <template>webtoprint/catalog/product/view/options/type/instagramimage.phtml</template>
        </action>
    </reference>
</catalog_product_view>

What is the Customized method in it

class Ikantam_Webtoprint_Block_Options_Type_Customview_Instagramimage
    extends Mage_Core_Block_Template
{
    protected $_template = 'webtoprint/options/customview/instagramimage.phtml';
}

Where it works ? I cant understand how the instagramimage.phtml display on the frontend.

<?php /** @var $this Ikantam_Webtoprint_Block_Options_Type_Customview_Instagramimage */ ?>
<?php $data = $this->getInfo(); ?>
<h1><?php echo $data['value'] ; ?></h1>

Al last what what is the template here and how i can use it ?

<?php /** @var $this Ikantam_Webtoprint_Block_Catalog_Product_View_Options_Type_Instagramimage */ ?>
<?php $_option = $this->getOption(); ?>
<dt><label<?php if ($_option->getIsRequire()) echo ' class="required"' ?>><?php if ($_option->getIsRequire()) echo '<em>*</em>' ?><?php echo  $this->htmlEscape($_option->getTitle()) ?></label>
    <?php echo $this->getFormatedPrice() ?></dt>
<dd<?php if ($_option->decoratedIsLast){?> class="last"<?php }?>>
    <div class="input-box">
        <input type="text"
               id="options_<?php echo $_option->getId() ?>_instagramimage"
               class="<?php echo $_option->getIsRequire() ? ' required-entry' : '' ?>"
               name="options[<?php echo $_option->getId() ?>]"
               value="<?php echo $this->escapeHtml($this->getDefaultValue()) ?>" />
    </div>
</dd>

Now i can get the custom option in my admin section, But When i add some value like

Title * Input Type *          Is Required   Sort Order
Test        text(Instagramimage)   yes                  0

Price   Price Type  SKU
450.00      fixed           34

I found the input box with title given, but could not find the price value. As frontend it could not save the price value in backend also.In data base SKU value has saved but not the price value.