var fake = $('#fake').hide();

function test(selectTag){

   var selectedOption = $( "select option:selected" );

   var selectedValue = selectTag.value;

​

   // Do you thing with selected value.

  // For example, log it out

  console.log('selectedValue', selectedValue);

​

  // Set the text of the fake value 

  fake.text(selectedOption.text());

  // And select it. Note that the fake tag itself is still hidden

  selectTag.value = 'fake';

}