Problem:

Finding the value in List1 (column A) placed in each position stored in column B.
Solution:

Using the INDEX function, as follows:
=INDEX($A$2:$A$6,B2)

Example:

List1_______Position______Result
Mike________5_____________Rachel
Ron_________4_____________Mischelle
David_______3_____________David
Mischelle___2_____________Ron
Rachel______1_____________Mike