Layout of interrelated names, ideas?

How to do this if possible...

example;

Custom Post = Rose Hybrid Name [Pink Passion]
Custom Taxonomy = Mother (Rose Hybrid Name) [Red Passion]
Custom Taxonomy = Father (Rose Hybrid Name) [White Passion]

Custom Post = Rose Hybrid Name [Orange Passion]
Custom Taxonomy = Mother (Rose Hybrid Name) [Red Passion]
Custom Taxonomy = Father (Rose Hybrid Name) [Pink Passion]

Each Mother and Father is or will be a Custom Post.

Can I have a taxonomy reference a custom post list as its option or something similar, links even to the Mother's/Father's post?

I can't think of a non-cumbersome method, custom fields even, I want my taxonomies to reference posts basically.

Thanks,
Louis