SO fiddle

Test Fiddle mainly for SO Questions

by Nick Craver

HTML

<link rel="stylesheet" href="http://ajax.googleapis.com/ajax/libs/jqueryui/1.8.4/themes/overcast/jquery-ui.css">
<select style="display: none;">
<option>Test</option>
<option>Test 2</option>
<option>Test 3</option>
</select>
<br />
Output:
<div></div>

CSS

.ui-state-hover { font-weight: bold; }

JavaScript

var obj = $("select"), list = $("div"), plus = " +";

var item = $('<div />', { 'class': 'ui-widget-content ui-state-default' })
           .hover(function(){$(this).addClass('ui-state-hover')}, 
                  function(){$(this).removeClass('ui-state-hover');});

$(obj).children('option').each(function(){
  $(list).append(item.clone(true).html(this.text).append(plus));
});