Each option must have an unique ID for it to work. Right now all your option elements are called "give" and document.getElementById() only returns the first one (because it only expects one to exist).
However, it's probably better to skip the IDs all together and just use the name of the form and the select element:
Code:
<form method="post" name="chartForm">
<textarea cols="40" id="put" rows="3" name="chart2"></textarea>
<p>
<label>Charts:</label>
<select name="charts_idd" onchange="returnValues()">
<option value="">Please Choose A Chart</option>
<option value="0">Desc0</option>
<option value="1">Desc1</option>
<option value="2">Desc2</option>
</select>
<input type="submit" value="Change It" />
</p>
</form>
Code:
<script>
function returnValues()
{
var selectElement = document.chartForm.charts_idd;
var values = selectElement.options[selectElement.selectedIndex].innerHTML;
document.chartForm.chart2.innerHTML = values;
}
</script>
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