PURPOSE: To obtain a guest/host type liquid crystal composition with excellent display contrast and stability, by dissolving as a guest material a multi-color dyestuff having a trans-4-substd. cyclohexyl group in a matrix consisting of a host liquid crystal.

CONSTITUTION: A guest/host type liquid crystal composition prepd. by dissolving a guest material consisting of a multi-color dyestuff in a matrix consisting of a host liquid crystal. In the composition, said multi-color dyestuff includes one having a trans-4-substd. cyclohexyl group such as an anthraquione or azo dye, which is typically of the formula IV[wherein W is a trans-4-substd. cyclohexyl group; D is a group of an org. dyestuff having no ionic groups, typically a group of formula II (wherein K is a group of formula III or an N-contg. heterocyclic ring; Y1 is H, alkyl, alkoxy, etc.; R2W3 are each, e.g., H; Z1W2 are each, e.g., a naphthalene ring; n is 1 or 2); B is, e.g., a group of the formula III].