When people talk about Technicolor they usually mean Technicolor process 4 or 5. The earlier processes (1 through 3) were two-color processes, and thus did not record a full color spectrum.
Process 4 is known as three-strip Technicolor. It was in use from 1932 until the mid 1950s. A big camera with a beam splitter and color filters recorded the scene on three separate B&W film strips. These separation negatives were contact printed onto so called matrix stock which was in turn used for making dye transfer prints. These prints are also known as IB prints, after the equipment used to make them, or dye imbibition prints. They are stunningly beautiful.
Process 5 was used from the early 1950s until the mid 1970s in the USA and the late 1970s in the UK. A normal movie camera was used for principal photography, and it recorded onto Eastman color negative film. Matrices for dye transfer were made from the color negative, and then IB prints were manufactured just like before.
When Technicolor abandoned dye transfer printing in the 1970s, the equipment was sold to China, where the process was used well into the 1990s. Not anymore, though.
Technicolor briefly revived dye transfer printing in the late 1990s. The process was adapted for printing onto polyester stock instead of acetate, but there were problems with obtaining consistent quality, and it was again abandoned after a few short years.