If you’d like to get the option with a value of 2, use
$("#list option[value="2"]").text();
If you’d like to get whichever option is currently selected, use
$("#list option:selected").text();
If you’d like to get the option with a value of 2, use
$("#list option[value="2"]").text();
If you’d like to get whichever option is currently selected, use
$("#list option:selected").text();