Custom Order Status
Yes, you can. On your Store Dashboard, go to Apps → Custom Order Status → Orders.
From there, you can select multiple orders by clicking the check boxes to the left of each order. After you have selected, got to the Edit Selected tab on the top of the dashboard. From here, you can assign the Custom Status of your choice.
You can set the custom status name, icon, colour for the status, and a colour for the status text.
Along with this you can also configure email settings and fallback settings for the status. Please refer this link for detailed steps on how to create a status.
Either the Orders will revert to No Status, or to another Custom Status of your choice.
For the second option, you have to go to Apps → Custom Order Status → Status. Pick the Status you want to delete and click on the Edit icon. Once you enable the Fallback Settings, you can select the Fallback Status, which is a custom status which has already been created. If Fallback settings are not set, then the status will be reset to none for all the associated orders
If, for some reason, you do not want either the customer or any other recipient, you can go to Apps → Custom Order Status → Orders. You can click on the order you want to edit. You get two options; ‘Do not email customer’ and ‘Do not email additional recipients’. Tick the option/s you need.
If you want to send notes with the Custom email, you have to first go to Apps → Custom Order Status → Orders. You can click on the order status you want to edit. In the Private Note section, you can put comments and notes for recipients of additional emails. The comments and notes from the Public Note section will go to the customer. In the emails, the notes shortcodes need to be present.
You can send custom emails for the custom order statuses to admin, vendors or shipping companies, or anyone else who is not a customer.