The chromosomes contain genetic information called genes, which were inherited from each parent and different versions of the same gene on each chromosome are called alleles.
Chromatids from each homologous chromosome exchange segments of alleles during a process called crossing over, resulting in different gene combinations.
Each chromosome still consists of sister chromatids, but they're no longer identical because of the allele exchange that happened during crossing over.
Cytokinesis occurs in Meiosis I, producing two genetically different haploid daughter cells each containing chromosomes in the form of paired sister chromatids.
During Prophase I, the pairing of homologous chromosomes called synapsis occurs, with each pair of homologous chromosomes consisting of four chromatids called a tetrad.