Get delta value of Multifield
&lt;?php foreach ($row-&gt;field_my_field as $data): ?&gt;

  &lt;?php if ($data['raw']['value'] == 'o'): ?&gt;
    // Output nothing, or placeholder, whatever
  &lt;?php else: ?&gt;
    &lt;?php print $data['rendered']['#markup']; ?&gt;
  &lt;?php endif; ?&gt;

&lt;?php endforeach; ?&gt;