How to Insert Data from 1 Sheet into Another Sheet Based on Given Data

You can do what you are asking with a formula.

Let's say Sheet1 cell A5 says "Blue"
In sheet2 cell B5 put

 =If(Sheet1!A5="Blue",1,If(Sheet1!A5="Red",2,""))

The' Sheet1!A5' tells Excel to look on sheet 1 at cell A5 for the value. The nested 'IF' statement allows it to evealueate the value in sheet1, A5 as "Blue", "Red" or blank and put a value in sheet 2, B5 based on what is in sheet 1.

If your data begins in A1 on both sheets then the formula would go in cell B1 of sheet 2 and would look like.

 =If(Sheet1!A1="Blue",1,If(Sheet1!A1="Red",2,""))

Then copy it downd columns B by dragging. The formula will automatically change the row number as it is copied down.

If you used the A5 reference but entered the formula on a different row than row 5 then it would not give accurate results. The row reference has to be the same from sheet to sheet. Also, you did not mention the Green in the OP. If you have threes options then the formulat would be

 =If(Sheet1!A1="Blue",1,If(Sheet1!A1="Red",2,If(Sheet1!A1="Green",3,"")))