Custom Post Formats for Custom Post Types

You have several options here so I will clarify what you can do.

1. Create a custom post type template page using something like single-customposttype.php and take advantage of the template hierarchy, http://codex.wordpress.org/Template_Hierarchy

2. Use a conditional query for your styling in the loop ( or whatever you’re using), along the line of if (post type= your custom one) style it this way;. or use some other WordPress conditionals. http://codex.wordpress.org/Class_Reference/WP_Query

3. Use a taxonomy for back-end organization, custom taxonomies do not have to be public.

4. Use post formats for your custom post type, CPT’s can support post-formats,
   http://codex.wordpress.org/Function_Reference/register_post_type

Most people go with option one, but it depends on what you’re trying to do.