You will need another template, in this case named newtemplatebit, that will be used inside the loop.
In that template put
PHP Code:
<option value="$user[userid]">$user[username] - $bbuserinfo[email]</option>
At the end you call the main template, newtemplate. In that template you put
PHP Code:
<table cellpadding=20 bgcolor="lightgrey">
<tr>
<td>
<form action="displayresults.php" method="post">
<select name="userid">
<option value="">Select a user</option>
$newtemplatebit
</select><input type="submit" value="submit" name="submit">
</form>
</td>
</tr>
</table>
Hope I helped.