How to copy text + formating with a formula

I have a finance tracker and what i want to find out is if theres an

“=***” formula that brings back the values and formatting of the chosen cell.

I want to be able to make a key with items like
“Groceries” with an orange background
“Gas” with a red background
" water/light Bills" with a blue/yellow background

And just call for the cell instead of having to copy/paste it.
Last thing incase its different is taking text+format from another sheet “=$key.****”

I tried looking through the topics but i couldn’t understand the any formulas so if this is already answered my apologies