I am using this code in my template:
<select>
<?php
dropdown_menu( array(
'sort_column' => 'menu_order',
'child_of' => '10',
// You can alter the blanking text eg. "- Menu Name -" using the following
'dropdown_title' => '-- Main Menu --',
// indent_string is a string that gets output before the title of a
// sub-menu item. It is repeated twice for sub-sub-menu items and so on
'indent_string' => '- ',
// indent_after is an optional string to output after the indent_string
// if the item is a sub-menu item
'indent_after' => ''
) );
?>
</select>