diff --git a/packages/react/src/components/Forms/Select/index.scss b/packages/react/src/components/Forms/Select/index.scss
index e205f96..d85aa3a 100644
--- a/packages/react/src/components/Forms/Select/index.scss
+++ b/packages/react/src/components/Forms/Select/index.scss
@@ -255,6 +255,7 @@
           margin-bottom: 0.25rem;
           max-width: var(--c--components--forms-select--multi-pill-max-width);
           font-size: var(--c--components--forms-select--multi-pill-font-size);
+          vertical-align: middle;
 
           > span {
             min-width: 0;
diff --git a/packages/react/src/components/Forms/Select/multi-common.tsx b/packages/react/src/components/Forms/Select/multi-common.tsx
index 1a236ea..3cbb0fb 100644
--- a/packages/react/src/components/Forms/Select/multi-common.tsx
+++ b/packages/react/src/components/Forms/Select/multi-common.tsx
@@ -5,12 +5,13 @@ import { Field } from ":/components/Forms/Field";
 import { LabelledBox } from ":/components/Forms/LabelledBox";
 import { Button } from ":/components/Button";
 import { useCunningham } from ":/components/Provider";
-import { Option } from ":/components/Forms/Select/mono";
-import { SelectProps } from ":/components/Forms/Select";
+import { Option, SelectProps } from ":/components/Forms/Select";
 import {
   getOptionsFilter,
   optionToValue,
+  renderOption,
 } from ":/components/Forms/Select/mono-common";
+import { SelectedOption } from ":/components/Forms/Select/utils";
 
 /**
  * This method returns a comparator that can be used to filter out options for multi select.
@@ -160,7 +161,10 @@ export const SelectMultiAux = ({
                         index,
                       })}
                     >
-                      <span>{selectedItemForRender.label}</span>
+                      <SelectedOption
+                        option={selectedItemForRender}
+                        {...props}
+                      />
                       <Button
                         tabIndex={-1}
                         color="tertiary"
@@ -210,7 +214,7 @@ export const SelectMultiAux = ({
                         index,
                       })}
                     >
-                      <span>{option.label}</span>
+                      <span>{renderOption(option)}</span>
                     </li>
                   );
                 })}
diff --git a/packages/react/src/components/Forms/Select/multi.mdx b/packages/react/src/components/Forms/Select/multi.mdx
index 4b246b8..840bb05 100644
--- a/packages/react/src/components/Forms/Select/multi.mdx
+++ b/packages/react/src/components/Forms/Select/multi.mdx
@@ -88,6 +88,19 @@ For some reasons you might want to hide the label of the Multi-Select. You can d
   <Story id="components-forms-select-multi--hidden-label"/>
 </Canvas>
 
+## Custom render option
+
+You can give customize the look of the options by providing `render` callback.
+
+> When you provide `render` the fields `label` and `value` are mandatory.
+
+Feel free to use the attribute `showLabelWhenSelected` to choose whether you want to display selected option with the custom
+HTML or with its `label`. It is set to `true` by default.
+
+<Canvas sourceState="shown">
+  <Story id="components-forms-select-multi--searchable-custom-render"/>
+</Canvas>
+
 ## Controlled / Non Controlled
 
 Like a native select, you can use the Select component in a controlled or non controlled way. You can see the example below
diff --git a/packages/react/src/components/Forms/Select/multi.spec.tsx b/packages/react/src/components/Forms/Select/multi.spec.tsx
index 0f9ca86..e2cff66 100644
--- a/packages/react/src/components/Forms/Select/multi.spec.tsx
+++ b/packages/react/src/components/Forms/Select/multi.spec.tsx
@@ -4,7 +4,11 @@ import React, { createRef, FormEvent, useState } from "react";
 import { expect } from "vitest";
 import { within } from "@testing-library/dom";
 import { CunninghamProvider } from ":/components/Provider";
-import { Select, SelectHandle } from ":/components/Forms/Select/index";
+import {
+  Select,
+  SelectHandle,
+  SelectProps,
+} from ":/components/Forms/Select/index";
 import {
   expectMenuToBeClosed,
   expectMenuToBeOpen,
@@ -834,6 +838,106 @@ describe("<Select multi={true} />", () => {
       await waitFor(() => expectMenuToBeClosed(menu));
       expect(document.activeElement?.className).toEqual("");
     });
+
+    it("renders custom options", async () => {
+      const Wrapper = (props: SelectProps) => {
+        return (
+          <CunninghamProvider>
+            <Select {...props} />
+          </CunninghamProvider>
+        );
+      };
+
+      const props: SelectProps = {
+        label: "City",
+        multi: true,
+        options: [
+          {
+            label: "Paris",
+            value: "paris",
+            render: () => (
+              <div>
+                <img src="paris.png" alt="Paris flag" />
+                Paris
+              </div>
+            ),
+          },
+          {
+            label: "Panama",
+            value: "panama",
+            render: () => (
+              <div>
+                <img src="panama.png" alt="Panama flag" />
+                Panama
+              </div>
+            ),
+          },
+          {
+            label: "London",
+            value: "london",
+            render: () => (
+              <div>
+                <img src="london.png" alt="London flag" />
+                London
+              </div>
+            ),
+          },
+        ],
+      };
+
+      const { rerender } = render(<Wrapper {...props} />);
+      const input = screen.getByRole("combobox", {
+        name: "City",
+      });
+      const menu: HTMLDivElement = screen.getByRole("listbox", {
+        name: "City",
+      });
+      const valueRendered = document.querySelector(
+        ".c__select__inner__value",
+      ) as HTMLElement;
+
+      const user = userEvent.setup();
+      expectSelectedOptions([]);
+
+      await user.click(input);
+      expectMenuToBeOpen(menu);
+      screen.getByRole("img", { name: "Paris flag" });
+      screen.getByRole("img", { name: "Panama flag" });
+      screen.getByRole("img", { name: "London flag" });
+
+      // Select Paris
+      await user.click(
+        screen.getByRole("option", { name: "Paris flag Paris" }),
+      );
+      await user.click(
+        screen.getByRole("option", { name: "London flag London" }),
+      );
+
+      // Make sure only the label is rendered by default.
+      expectSelectedOptions(["Paris", "London"]);
+      expect(
+        within(valueRendered).queryByRole("img", {
+          name: "Paris flag",
+        }),
+      ).not.toBeInTheDocument();
+      expect(
+        within(valueRendered).queryByRole("img", {
+          name: "London flag",
+        }),
+      ).not.toBeInTheDocument();
+
+      // Now showLabelWhenSelected to false.
+      rerender(<Wrapper {...props} showLabelWhenSelected={false} />);
+
+      // Make sure the HTML content of the options is rendered.
+      expectSelectedOptions(["Paris", "London"]);
+      within(valueRendered).getByRole("img", {
+        name: "Paris flag",
+      });
+      within(valueRendered).getByRole("img", {
+        name: "London flag",
+      });
+    });
   });
 
   describe("Searchable", async () => {
@@ -1442,5 +1546,133 @@ describe("<Select multi={true} />", () => {
       await waitFor(() => expectMenuToBeClosed(menu));
       expect(document.activeElement?.tagName).toEqual("BODY");
     });
+
+    it("renders custom options", async () => {
+      const Wrapper = (props: SelectProps) => {
+        return (
+          <CunninghamProvider>
+            <Select {...props} />
+          </CunninghamProvider>
+        );
+      };
+
+      const props: SelectProps = {
+        label: "City",
+        multi: true,
+        searchable: true,
+        options: [
+          {
+            label: "Paris",
+            value: "paris",
+            render: () => (
+              <div>
+                <img src="paris.png" alt="Paris flag" />
+                Paris
+              </div>
+            ),
+          },
+          {
+            label: "Panama",
+            value: "panama",
+            render: () => (
+              <div>
+                <img src="panama.png" alt="Panama flag" />
+                Panama
+              </div>
+            ),
+          },
+          {
+            label: "London",
+            value: "london",
+            render: () => (
+              <div>
+                <img src="london.png" alt="London flag" />
+                London
+              </div>
+            ),
+          },
+        ],
+      };
+
+      const { rerender } = render(<Wrapper {...props} />);
+      const input = screen.getByRole("combobox", {
+        name: "City",
+      });
+      const menu: HTMLDivElement = screen.getByRole("listbox", {
+        name: "City",
+      });
+      const valueRendered = document.querySelector(
+        ".c__select__inner__value",
+      ) as HTMLElement;
+
+      const user = userEvent.setup();
+      expectSelectedOptions([]);
+
+      await user.click(input);
+      expectMenuToBeOpen(menu);
+      screen.getByRole("img", { name: "Paris flag" });
+      screen.getByRole("img", { name: "Panama flag" });
+      screen.getByRole("img", { name: "London flag" });
+
+      // Filter options.
+      await user.type(input, "Pa");
+      screen.getByRole("img", { name: "Paris flag" });
+      screen.getByRole("img", { name: "Panama flag" });
+      expect(
+        screen.queryByRole("img", { name: "London flag" }),
+      ).not.toBeInTheDocument();
+
+      // Select Paris
+      await user.click(
+        screen.getByRole("option", { name: "Paris flag Paris" }),
+      );
+
+      // Filter to find London.
+      await user.clear(input);
+      expect(
+        screen.queryByRole("img", { name: "Paris flag" }),
+      ).not.toBeInTheDocument();
+      screen.getByRole("img", { name: "Panama flag" });
+      screen.getByRole("img", { name: "London flag" });
+
+      await user.type(input, "Lo");
+      expect(
+        screen.queryByRole("img", { name: "Paris flag" }),
+      ).not.toBeInTheDocument();
+      expect(
+        screen.queryByRole("img", { name: "Panama flag" }),
+      ).not.toBeInTheDocument();
+      screen.getByRole("img", { name: "London flag" });
+
+      // Select London.
+      await user.click(
+        screen.getByRole("option", { name: "London flag London" }),
+      );
+
+      // Make sure only the label is rendered by default.
+      expectSelectedOptions(["Paris", "London"]);
+      expect(
+        within(valueRendered).queryByRole("img", {
+          name: "Paris flag",
+        }),
+      ).not.toBeInTheDocument();
+      expect(
+        within(valueRendered).queryByRole("img", {
+          name: "London flag",
+        }),
+      ).not.toBeInTheDocument();
+
+      // Now showLabelWhenSelected to false.
+      rerender(<Wrapper {...props} showLabelWhenSelected={false} />);
+
+      // Make sure the HTML content of the options is rendered.
+      expectSelectedOptions(["Paris", "London"]);
+      within(valueRendered).getByRole("img", {
+        name: "Paris flag",
+      });
+      within(valueRendered).getByRole("img", {
+        name: "London flag",
+      });
+    });
   });
 });
diff --git a/packages/react/src/components/Forms/Select/multi.stories.tsx b/packages/react/src/components/Forms/Select/multi.stories.tsx
index 07c3ae9..7ce07fa 100644
--- a/packages/react/src/components/Forms/Select/multi.stories.tsx
+++ b/packages/react/src/components/Forms/Select/multi.stories.tsx
@@ -7,7 +7,10 @@ import { faker } from "@faker-js/faker";
 import { onSubmit } from ":/components/Forms/Examples/ReactHookForm/reactHookFormUtils";
 import { Select, SelectHandle } from ":/components/Forms/Select";
 import { Button } from ":/components/Button";
-import { RhfSelect } from ":/components/Forms/Select/stories-utils";
+import {
+  getCountryOption,
+  RhfSelect,
+} from ":/components/Forms/Select/stories-utils";
 
 export default {
   title: "Components/Forms/Select/Multi",
@@ -216,6 +219,37 @@ export const NoOptions = {
   },
 };
 
+export const CustomRender = {
+  render: Template,
+  args: {
+    label: "Select a country",
+    showLabelWhenSelected: false,
+    options: [
+      getCountryOption("Germany", "DE"),
+      getCountryOption("France", "FR"),
+      getCountryOption("United States", "US"),
+      getCountryOption("Spain", "ES"),
+      getCountryOption("China", "CN"),
+    ],
+  },
+};
+export const SearchableCustomRender = {
+  render: Template,
+  args: {
+    label: "Select a country",
+    showLabelWhenSelected: false,
+    searchable: true,
+    defaultValue: ["france", "united states"],
+    options: [
+      getCountryOption("Germany", "DE"),
+      getCountryOption("France", "FR"),
+      getCountryOption("United States", "US"),
+      getCountryOption("Spain", "ES"),
+      getCountryOption("China", "CN"),
+    ],
+  },
+};
+
 export const Ref = () => {
   const ref = useRef<SelectHandle>(null);
 
diff --git a/packages/react/src/components/Forms/Select/multi.tsx b/packages/react/src/components/Forms/Select/multi.tsx
index 41ff4e1..32b458c 100644
--- a/packages/react/src/components/Forms/Select/multi.tsx
+++ b/packages/react/src/components/Forms/Select/multi.tsx
@@ -3,8 +3,11 @@ import { optionToValue } from ":/components/Forms/Select/mono-common";
 import { SelectMultiSearchable } from ":/components/Forms/Select/multi-searchable";
 import { SelectMultiSimple } from ":/components/Forms/Select/multi-simple";
 import { SubProps } from ":/components/Forms/Select/multi-common";
-import { Option } from ":/components/Forms/Select/mono";
-import { SelectHandle, SelectProps } from ":/components/Forms/Select/index";
+import {
+  Option,
+  SelectHandle,
+  SelectProps,
+} from ":/components/Forms/Select/index";
 
 export type SelectMultiProps = Omit<SelectProps, "onChange"> & {
   onChange?: (event: { target: { value: string[] } }) => void;