Dax Statement Help - Multiple IF Statements

In my dataset, I have a column with multiple text values.  I am looking for assistance with a DAX statement that will allow me to change the values (in a new column) to something more description.  For instance:

If B = Blue, If R=Red, If Y = Yellow

I am having problems creating mutliple conditions and have Power BI accept the statement.

Thanks in advance for the help!