Sorry, my code sample on the original post was incorrect.
I WAS actually using this, just as you had it:
if($myVar != $var1 || $myVar != $var2 || $myVar != $var3)
Problem was, it still wouldn't work. I read something about it not correct evaluating the second and third statements because both the || and the != are comparison operators.
Regardless, your second solution worked perfectly - and slimmed-up my code a bit!
Thanks so much for your help!