Yeap, thats the way to do it. You've created your own html/js (similar can be done via html/css) but choosing a light weight jquery is a good choice.
I'd suggest creating your own functions that allow you to abstract the menu into functions (or a class, if you lean that way).
This way you can place all the html/js into one place making it easy to upgrade or fix if something changes in your dependencies (jquery, nt, etc).
DropDownMenu = DDMStart()&|
Or a class with a stringtheory object, and a method for adding items, and a method to return the value, that appends and prepends the appropriate html.