A good strategy for finding the answer to this question might start with looking in the API documentation, where it says
A JTextArea is a multi-line area that displays plain text.
That should tell you right away that fonts and colours aren't going to be supported. The other good thing about that documentation page is that it goes on by directing you to a tutorial with examples of text components; after you get done going through that tutorial
you should have a pretty good idea of which component you need to use.
If the API documentation is something you haven't heard of before, here's a link to the relevant page: JTextArea. You should really have a bookmark in your browser to the API documentation site because it provides information that you need. Also if you find a link to a tutorial there, you should go and read that tutorial if you plan to make significant use of the class. Or alternatively do a web search for
java X tutorial, where X is the class or concept you want to learn about.
And, welcome to the Ranch!