Extracting required words.

can someone tell me, how to find a particular word in a line, i will tell one sample question.

in cell it is given as a1-sky is blue in color, in cell b2-rose is red in color, and in cell a3-milk is white in color. i have to get the result in b1 as blue, in b2 as red and in b3 as white. is there any formula to find like this.