The Switch function is now available, in Excel 2016 / Office 365
SWITCH(expression, value1, result1, [default or value2, result2],…[default or value3, result3])
example:
=SWITCH(A1,0,"FALSE",-1,"TRUE","Maybe")
Note: MS has updated that page to only document the behavior of Excel 2019. Eventually, they will probably remove references to 2019 as well... To see what the page looked like in 2016, use the wayback machine: https://web.archive.org/web/20161010180642/https://support.office.com/en-us/article/SWITCH-function-47ab33c0-28ce-4530-8a45-d532ec4aa25e