Excel date format - quarter & year

No - quarters are not a customisable format

The closest I think you could get would be to use a formula which has two potential limitations

  1. in place of the current value
  2. which would then no longer be a date

=INDEX({"Mar","Jun","Sep","Dec"},ROUNDUP(MONTH(A1)/3,0))&TEXT(A1," yyyy")

will return the quarter (based on a calendar year) and year of a date in A1, i.e. for today's date Dec 2011


=ROUNDUP(MONTH(A1)/3,0)&TEXT(A1," yyyy")

This is enough if you just need the number of the quarter