You're on the right track, but there are some corrections to make:
-
A participle is a type of verb that can function as an adjective in a sentence (but not as a verb directly).
-
Present participles typically end in -ing (not “-ion”).
-
Past participles most commonly end in -ed for regular verbs, but many common verbs are irregular and have different forms (e.g., "go" becomes "gone," "eat" becomes "eaten").
So a corrected version would be:
"A participle is a type of verb that can function as an adjective in a sentence. Participles can be present or past participles. Present participles always end in -ing, and past participles typically end in -ed, unless they are irregular verbs."