Option values in Dropdown list

Hi,

In a dropdown is there a way to return a value other than the displayed string, similar to the way a HTML select tag works?
Example: The user selects "Flordia" from the dropdown list and the selected value would be "FL"

State: [b][color=#ff0000]FL[/color][/b]
[table] [tr] [td] Colorado
[tr] [td] Connecticut
[tr] [td] Delaware
[tr] [td][color=#ff0000][b] Florida[/b][/color]
[tr] [td] Georgia
[tr] [td] Hawaii
[tr] [td] Idaho
[/table]
Thanks in advance