Extract texts from a cell and paste it to another cell

[alterego23]

I have an excel file that contains descriptions of varying length.
What i need is to extract the words (Black, Yellow, Chocolate, Silver, Fox Red, Cream, White) and have it placed on a different cell. Then another set (English, Show, Bench, Field, American) also to be inserted to another cell.
Is this possible? Thanks for your help.

[:) Sixthsense :)]

Please attach a sample data with expected output for providing solution.

[alterego23]

Thanks for the reply. I have attached the sample data for your reference.
Basically the two columns where i would like to put the results will be on Color and Type.

[:) Sixthsense :)]

Thanks for the attachment and just providing 1 expected output will not help us in understanding the logic. If you provided the expected output for at least 10 rows then it will helpful. At the same time please share your idea based on which logic the formula should be applied for getting the result.