Hi @tanya
Currently this is not possible, but good news: This will be in the next release of Dash 
See this pull request for more details and examples.
Change Color of Icons with Conditional Formatting
Formatting text with html

import dash
import dash_html_components as html
import dash_table
import pandas as pd
FONT_AWESOME = "https://use.fontawesome.com/releases/v5.10.2/css/all.css"
dot = '<i class="fa fa-circle" ></i>'
app = dash.Dash(__name__, external_stylesheets=[FONT_AWESOME])
df = pd.DataFrame(
dict(
[
(
"flight",
[
"American Airlines <em>AA125</em>",
"Air Canada <em>AC1538</em>",
"Alaska Airlines <em>AS649</em>",
"British Airways <em>BA145</em>",
],
),
("status", ["On Time", "Canceled", "Delayed", "On Time"]),
("icon", [dot, dot, dot, dot]),
]
)
)
app.layout = html.Div(
[
dash_table.DataTable(
css=[dict(selector="p", rule="margin: 0px;")],
data=df.to_dict("records"),
columns=[
{"id": "flight", "name": "Flight", "presentation": "markdown"},
{"id": "status", "name": "Status"},
{"id": "icon", "name": "", "presentation": "markdown"},
],
markdown_options={"html": True},
style_table={"width": 200},
style_data_conditional=[
{
"if": {
"filter_query": '{status} = "Canceled"',
"column_id": "icon",
},
"color": "tomato",
},
{
"if": {"filter_query": '{status} = "Delayed"', "column_id": "icon"},
"color": "gold",
},
{
"if": {"filter_query": '{status} = "On Time"', "column_id": "icon"},
"color": "green",
},
],
)
]
)
if __name__ == "__main__":
app.run_server(debug=True)