Multi Select with label & value

I have searched through the forums and documentation and didn’t find anything…I am trying to create a new multi-select field in Places -> Settings -> Fields -> Multi Select. I need an option to set both the label|value where the user selects the label and the value is a hidden shortcode. When I set the “Option Values” to multiple shortcodes, the content renders and shows on the frontend. But I can’t figure out how to include a label as well. Is this possible? If not, is there another way to accomplish this?