create a drop down list with variables "A" and "B"
create your text and book marked as "A" and "B"

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Private Sub ComboBox1_DropButtonClick()
ComboBox1.List = Array("A", "B")
End Sub
Private Sub ComboBox1_change()
Call ShowHideBookmark
End Sub
Sub ShowHideBookmark()
Dim orange As Range
Set orange = ActiveDocument.Bookmarks("A").Range
Set apple = ActiveDocument.Bookmarks("B").Range

If ComboBox1.Value = "B" Then
With orange.Font
.Hidden = True
End With
With apple.Font
.Hidden = False
End With

ElseIf ComboBox1.Value = "A" Then
With orange.Font
.Hidden = False
End With
With apple.Font
.Hidden = True
End With
End If
End Sub