How to return multiple IF values in a single cell?

Hi there,

I'm trying to figure out if such a formula or function exists to achieve the following. It seems pretty simple in theory but I can't quite seem to wrap my head around how to achieve it.

I want to return a specific result in one cell based on the value of a different cell. Similar to the if function but with a third or more variable.

Example:

If A1 equals 1 then A2 = "red"
If A1 equals 2 then A2 = "white"
If A1 equals 3 then A2 = "blue"
If A1 is empty or equals none of the above leave A2 blank

I'm basically trying to autofill A2 with the correct value based on the entry of the cell before it.

Is this possible?

Thanks in advance!

Jason.