Select Options is a variable type built for one job: giving your dropdowns, selects, and radio buttons a single, reusable list of choices. Instead of retyping the same options into every field, you define the list once and point any number of fields at it.
status_options).
The description under Type explains it well: "A list of options for dropdowns and selects. Pull rows from a table (Load Data) or bind to an existing collection or field (Data Binding)."




Pick the table that holds your options. Once selected, you'll be asked which column supplies the label (what people see) and which column supplies the saved value (what actually gets stored) — so the dropdown can show something readable while saving something precise underneath.
Click Save.
Once your Select Options variable exists, open any Select or Radio field's Data Source settings and choose your variable as the source. The field will always show whatever rows are currently in that table — update the table, and every field using the variable updates automatically, with nothing to maintain by hand.