Use iconFunction to determine the icon to display

         
<?xml version="1.0"?>
<mx:Application xmlns:mx="http://www.adobe.com/2006/mxml">
    <mx:Script>
        
        [Embed(source="logo.jpg")]
        public var imageIcon1:Class;
        [Embed(source="logo.jpg")]
        public var normalSymbol:Class;
        private var myData: Array;
        private function initList():void {
            myData = [{Artist:'A', Album:'AA',Price:1.99},
                      {Artist:'B', Album:'BB',Price:1.99},
                      {Artist:'C', Album:'CC',Price:5.99}];
            list1.dataProvider = myData;
        }
        private function myiconfunction(item:Object):Class{
            var type:String = item.Artist;
            if (type == "A") {
                return imageIcon1;
            }
            return normalSymbol;
        }
      
    </mx:Script>
    <mx:VBox>
        <mx:List id="list1" initialize="initList()" labelField="Artist" iconFunction="myiconfunction" />
    </mx:VBox>
</mx:Application>

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Use iconFunction to determine the icon to display : Icon « Graphics « Flex

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