try: (assumes connection mysql database)
<select name="options">
<?
$stuff="";
//
$query = "select concat('<option value=',value,'>',text,'</option>') as item from yourtable";
$result = mysql_query("mydatabase",$query);
while($row = mysql_fetch_array($result))
{
$stuff .= $row['item'];
}
echo $stuff;
?>
</select>