Contact Form 7 – Display Dropdown, Send Different Data

Yes, it is possible and you can see an example here on the Contact Form 7 website.

For example:

[select your-field "Label 1|value1" "Label 2|value2" "Label 3|value3"]

The actual value is hidden in the front-end form (label and value appear the same), however in the “Mail” tab of your form admin, you can send the actual value using the [_raw_{field name}], so in the case of my example [your-field] would return Label 1, Label 2 etc and [_raw_your-field] would return value1, value2 etc.