How to get the innerHTML of selectable jquery element?

Question

I have a php generated list whose list items are selectable using jquery selectable widget. The list for all intents and purposes is:

Answer 1

$(function() {
        $("#select-image").selectable({
            selected: function( event, ui ) { 
                var $variable = $('.ui-selected').html(); 
                console.log($variable);
            }
        });
    });

or

$(function() {
        $("#select-image").selectable({
            selected: function( event, ui ) { 
                var $variable = $('.ui-selected').text(); 
                console.log($variable);
            }
        });
    });

or

$(function() {
        $("#select-image").selectable({
            selected: function( event, ui ) { 
                var $variable = $('.ui-selected').val(); 
                console.log($variable);
            }
        });
    });