Create a Content Region with Multiple Templates

Is it possible to create a content region with multiple templates. For example:

A region within a page where the user can select the type of content they are posting. When creating the region the user could select from 'Text | Image | Video' and the region options presented would change accordingly and the template used to display the content front end would switch accordingly.

What I'm looking for is the ability to offer the editor flexibility when creating the content area of the page by offering content type and the ability to reorder.