would like the ability to use the | character in dropdown options

I need to be able to use the | character in a dropdown choice. However, Jotform keeps converting this to a new line. Is there way to do this?

I will submit a request to our developers to see if this is possible to allow.  Currently the character | is indeed used to denote a new line.  I am not sure if that is something that can be changed.

As soon as we have any updates, we will let you know via this thread.

Is there a way to add some sort of description in addition to the field value to a selection?

It is possible to add hover text to fields, but not to individual options within those fields.