Someone

#!/usr/bin/perl
#
#
my $string = '<select name="CATEGORY_ID">
<option label="[Top]" value="0" selected="selected">[Top]</option>
<option label="|___Blogs" value="4">|___Blogs</option>
<option label="|___Mods" value="3">|___Mods</option>
<option label="|___phpLD Designers and Developers" value="5">|___phpLD Designers and Developers</option>
<option label="|___Templates" value="2">|___Templates</option>
</select>
';

foreach ($string =~ m/label\=\"(.+?)\"/igm) {
        print $1;
}