How do I color code items in a drop down list?

[Beckers1986]

I have a range of options in a drop down lists that I want to appear in color
when selected.

 

[Debra Dalgleish]

You can't colour the items in the list, but you could use conditional
formatting (for up to three conditions) to colour the text in the cell,
after an item has been selected. There are instructions here:

http://www.contextures.com/xlCondFormat01.html