I've not got much time, and I won't be available for a few days for any more help, but this should start you off, then you can adapt it for your own needs.
I've started a new workbook.
On sheet1 I've made a simple list: the word apple in A1, and orange in A2.
I've downloaded a picture of an apple to the c drive, and called it apple.jpg
I've downloaded a picture of an orange to the c drive, and called it orange.jpg (not very inspiring is it!!)
I've created a combobox (from the controlbox toolbar) called combobox1, on sheet1.
I've created an image (from the controlbox toolbar) on sheet1 called image1, and positioned it where I want relative to the combobox. Size it at this stage if you wish, as well.
In the properties section of the combobox, I've set the list fill range to A1:A2.
In design mode on sheet1, I've right-clicked the combobox, and selected "view code".
The code needs to read thus (copy and paste if you like):
Private Sub ComboBox1_Change()
If Me.ComboBox1.Value = "apple" Then
Me.Image1.Picture = LoadPicture("C:\apple.jpg")
Me.Image1.Picture = LoadPicture("C:\orange.jpg")
Now, when you select a fruit from the combobox, the appropriate picture should populate image1.