Drop Down List different colors

In the hooks/<tablename>-dv.js:

Assuming your selection is “empty, yes, no” otherwise you need to adjust the below code accordingly.
Replace YOURSELECTNAME by your selection.

$j(function () {

	 var onSelectOpen=function(){ 
		 $j(".select2-drop-active .select2-result-selectable:eq(0)").css("color","")
		 $j(".select2-drop-active .select2-result-selectable:eq(1)").css("color","green")
		 $j(".select2-drop-active .select2-result-selectable:eq(2)").css("color","red")		 
	}
	 
	 var onSelectClose=function(){ 
		var myval=$j("#YOURSELECTNAME").val();
		switch(myval) {
			case "yes":
				$j("#s2id_YOURSELECTNAME .select2-choice").css("color","green")
			break;
			case "no":
				$j("#s2id_YOURSELECTNAME .select2-choice").css("color","red")
			break;
			default:
				$j("#s2id_YOURSELECTNAME .select2-choice").css("color","")
		}
	 }
	 
	 $j("#YOURSELECTNAME").on("select2-open", onSelectOpen);
	 $j("#YOURSELECTNAME").on("select2-close", onSelectClose);	 
}