Custom variables for reuse in CloudFormation template

So, in my idea for a stack, I have a need to create all resources with a certain name, and that will be formed based on the parameters while creating a stack, like this:

Param1: blue
Param2: car

So, all the resources will be named blue-car, and I will need to cross-reference between them in the template. So for instance, there will be a bucket called 'blue-car' and I will be creating Policies and Roles for this bucket.

Can I, in some way, define a custom global variable (or something else with the same effect) that I would be able to reference everytime I need this NAME, or would I have to keep using ugly !Joins all the time?

So instead of doing this:

Resource: 
  - !Join
    - 'arn:aws:s3:::'
    - - !FindInMap 
        - Naming
        - BasicPrefix
        - Name
      - '-'
      - !Ref BusinessUnitName
      - !Ref EnvType
  - !Join
    - 'arn:aws:s3:::'
    - - !FindInMap 
        - Naming
        - BasicPrefix
        - Name
      - '-'
      - !Ref BusinessUnitName
      - !Ref EnvType
    - '/*'

I could do this instead:

Resource: 
  - !Join
    - 'arn:aws:s3:::'
    - {$SomethingMoreHandy}
  - !Join
    - 'arn:aws:s3:::'
    - {$SomethingMoreHandy}
    - '/*'