Here's how to create a formula for conditional formatting using cell references:

1. Select the cells: Choose the range of cells you want to apply the conditional formatting to.

2. Conditional Formatting Menu: Navigate to the "Home" tab and find the "Conditional Formatting" section. There are dropdown options like "Highlight Cells Rules" or "New Rule" depending on your Excel version.

3. "Use a formula to determine which cells to format": Select this option to create a custom rule based on a formula.

4. Enter your formula: In the formula box, type your condition using cell references. Here are some examples:

- Format cells greater than a value in another cell (e.g., B1): `=A1>B1` (This formats cells in column A if the value is greater than the value in cell B1)
- Format cells containing specific text: `=A1="Apple"` (This formats cells in column A if they contain the exact text "Apple")
- Format cells based on a comparison between two cells: `=B2-A2<10` (This formats cells in column B if the value is less than 10 more than the corresponding value in column A)

5. Format Cells: Once you've entered your formula, click the "Format" button to choose how you want to format the cells that meet your condition (e.g., font color, fill color, borders).

6. Click OK: After customizing the format, click "OK" to apply the conditional formatting rule to your selected cells.

Tips:

- Use cell references (`A1`, `B2`) to make your formula dynamic and adaptable to different data sets.
- You can use logical operators like `>`, `<`, `=`, `<>` (not equal), `AND`, and `OR` to create complex conditions.
- Experiment with different formulas and formatting options to achieve the desired visual representation of your data.