What to do if we want a input format for select options of a webform? I have a web form with select option field whose value is quite long. I cannot use css to configure this. I need to use input format so that I can break this option using HTML code. Is there any module or something?

Additional Info:
We don't have input format option in case of webform module's select fields. My value in select field option is quite long. I have three values like below: 

  Session 1: PwC 
  11:30am
  Sourcing Strategies for the Next Decade

  Presented by:
  Damon Paling, Partner, PwC China
  Anthony Tennariello, Partner, PwC New York
  Maytee Pereira, Director, PwC New York.


I would like show the user like this but this is not possible since we don't have input format (HTML) to select.
I recommend the chosen module.

https://drupal.org/project/chosen

Its goal is to make input element a little more user friendly.

See here: http://harvesthq.github.io/chosen/