The “Generate a QR code” action lets you generate a QR code from a link, text or even tags and use it in your automations.
When you add a new action, you can find this action under the QR Code integration.

In the action options you will find options to define the image size, format (PNG, SVG, etc), margin, error correction level, foreground color (single or gradient), background color and eye colors.
Note: Here is an explanatory image of what eye colors are:

Examples
A common QR code (black foregorund and white background):

Custom colors (black foregorund and yellow background):

Custom colors and eye colors:

Gradient colors and custom eye colors:

Automations samples
You can check the automations samples page where you can see some samples of the possibilities of this add-on.