I\'d like to post two values in one drop down option and I\'m not sure about the best way to approach it.
The drop down list pulls data in from an external service.
You cannot post two values unless both of them appear in the value attribute. You can place both in, separated by a comma or hyphen and explode() them apart in PHP:
// Place both values into the value attribute, separated by "-"
Receiving them in PHP
// split the contents of $_POST['data'] on a hyphen, returning at most two items
list($data_id, $data_name) = explode("-", $_POST['data'], 2);
echo "id: $data_id, name: $data_name";