Is there a way to build a custom field that can store an image.

What I am looking to do is display a specific image based on the results of another custom field that we are using.

We have a custom field called ACCOUNT STATUS. I want to have another custom field that can display a specific image based on what's in ACCOUNT STATUS.

For example if ACCOUNT STATUS = LOCKED then show a red flag icon, but if ACCOUNT STATUS = ACTIVE show a green flag icon.

Is this achievable?

Thanks!