Checkbox or Radio button to display another value

Is it possible to use checkboxes or radio buttons to display a different value ? (other then editing *.php evertime)

example

If i had an Extra Field added as Template with Radio Buttons

TEMPLATE > VALUE 1 >> MY CAR IS BLUE
> VALUE 2 >> MY CAR IS GREEN
> VALUE 3 >> MY MOTORBIKE IS YELLOW

By Selecting radio button VALUE 3 it would output the MY MOTORBIKE IS YELLOW rather the VALUE 3

It could even use an external element (like a K2 item or an item in Virtumart)
I would like to use it to bring in specific details to a manufactures model in their range on each K2 article

Hi,

This is already exist, when you setup extra fields of type radio, you can add the options as MY CAR IS BLUE, MY CAR IS GREEN and so on.

does it make sense?