Randomly select one of two cells to populate from a list

Once you select one of the cells, how do you want to populate it from a list? That is, the cell can only hold one value. How do you determine which item in the list to populate it with?

Let's take a simpler case. Suppose I have two cells, and I want to select one of them at random to show the value in C1. Put this formula in A1:

Formula:

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Then in the first cell, use

Formula:

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And in the second cell

Formula:

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The part remaining is going from showing C1 to showing something from the list.