Conditional Formatting on Field containing Text

[Jen-Jen]

Hi, I find loads of help and posts on Conditional Formatting for dates or figures but nothing that is based on Text.

Is there a way to colour a field box depending on a particular text chosen from its drop down list?
i.e. Good, Avoid

Or even 4 colours
i.e. Good, OK, Beware, Avoid

Thank you

 

[Gasman]

 

[arnelgp]

 

[Jen-Jen]

Thank you arnelgp! and gasman too
I thought it would be more complicated. That's great!