I don't think I'm talking about either. Go to your Contacts application, then press the Menu button and tap the New Contact button at screen bottom. When the New Contact screen appears, scroll down until you get to "Other Information". Immediately below that heading is "Ringtone" with a control that should read "Default" (or whatever you've most recently chosen). What is that long, rectangular control with the down-arrow button at right? Is that a spinner, a pop-up menu, or something else? I haven't seen it in the documentation.
In Windows this is called a drop-down menu because when you press it, the options drop down underneath it.