Are there shortcuts? For example a button or combination of 2 buttons to turn a selected item into a color?

[BestofthebestinAI]

So when I have a chunk of text highlighted (selected), I get this:

And instead of having to click on the black square (click 1) then select a color (click 2), then confirm (click 3),
I would prefer to press a configured shortcut to make the text turn instantly to a color I pre configured.

Is that possible?