Webform custom Options file location My question is; When you create a custom option list in Webforms, where or how does the list get stored? 

Explanation:
In the Webforms Module (8.x-5.0-rc13) you have the ability to create custom options lists. The Options configuration page lists reusable predefined options/values available for select menus, radio buttons, checkboxes and Likert elements. (example: gender, sizes). The option lists that are included when the module is installed can be found as a yml files in docroot>>modules>>webform>>config>>install. After creating a custom option list I can not find the files anywhere or find a table in the database with the vales.

WHY?
I have a list of 500 colleges that I want to populate a select list with different option values option text. pasting the list would be much easier and faster than using the interface to create the list.

I tried using a term select but cannot figure out how to define the value. I can only define the display text in the terms.

Sample yml code customized from one of the predefined option lists:

langcode: en
status: true
dependencies:
  enforced:
    module:
      - webform
id: my_colleges
label: US Colleges
category: Demographic
likert: false
options: |
  361623: ALASKA PACIFIC UNIVERSITY
  362001: ANCHORAGE COMMUNITY COLLEGE
  362503: UNIVERSITY ALASKA
  362814: SHELDON JACKSON COLLEGE
  363495: UNIVERSITY ALASKA
Webform options are config entities. You can export and import then via /admin/config/development/configuration.

You can also just bulk edit the options YAML. (/admin/structure/webform/config/options/manage/time_zones/source)

Or you can use hook_webform_options_alter() or hook_webform_options_WEBFORM_OPTIONS_ID_alter() to dynamic populate options from database or web service.