Since I am storing the post_title in the meta field, I was using that as the key to match on in the choices array of the field object, so that it would display the label, which is why I thought this was the approach to take:
$field = get_field_object( 'custom_field) );
$value = get_post_meta( $post_id, 'custom_field', true );
echo $field['choices'][ $value ];
Versus when I try and do this:
$value = get_field('custom_field')
Which just returns the key/choice value of blue and the label value of Blue.
