Hi Ron,

My formula just drafts the idea.
We can easily put the Red|Blue combinations into 2 columns, attach a
=A1 and =B1 at the end to ensure that the search combination will be
found and that it will return any "else" value we define.

Regards,
Bernd

PS: Red| and Blue cannot be separated from Red and |Blue. I mentioned
that the introduced character should not appear [in the input, of
course] ...