First lets update your query to include the Title field.
SELECT Content, Title FROM AP_Data WHERE Title='Featured' or Title='Carousel'
When looping through results you can build the array to suit your needs
<?php
while($row = your_query_result){
//If you have one Content per Title
$array[$row['Title']] = $row['Content'];
//If you have multiple Contents per Title
$array[$row['Title']][] = $row['Content'];
}
?>