JSFiddle - React, Tailwind, and code Playground

HTML

<select>
    <option value="123" rel="toggleElem" class="foo" id="bar">Hello!</option>
</select>
<br>
    
    <h3> transformed html</h3>
<textarea style="width:100%; height:100px;"></textarea>

JavaScript

var $opt=$('option');

var $list=$('<ul>');
var optAttributes = $opt[0].attributes;
var listitemAttr={};
$.each( optAttributes, function( _, attr){
   listitemAttr[attr.name]= attr.value 
});
var $li=$('<li>', listitemAttr).text( $opt.text() );

var html= $list.append( $li).html();

$('textarea').val(html)