Formula Field to show color when a value of Custom Field lies in a certain Range

Recently, I go through a scenario where I need to showcase different colors when a value of a custom field lies in a particular range for example.
We have a Rating Field over Account with API name as Rating__c

If Rating belongs to 0 – 3 show Red
If Rating belongs to 4 – 6 show Yellow
If Rating belongs to 7 – 9 show Green

Solution:- Create a Formula Field with Return Type as Text

Paste the Below Formula into the Formula Builder

that’s how you can achieve the above scenario.

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