If you really need multiple columns in your result, and the amount of options is limited, you can even do this:
select
ordered_item.id as `Id`,
ordered_item.Item_Name as `ItemName`,
if(ordered_options.id=1,Ordered_Options.Value,null) as `Option1`,
if(ordered_options.id=2,Ordered_Options.Value,null) as `Option2`,
if(ordered_options.id=43,Ordered_Options.Value,null) as `Option43`,
if(ordered_options.id=44,Ordered_Options.Value,null) as `Option44`,
GROUP_CONCAT(if(ordered_options.id not in (1,2,43,44),Ordered_Options.Value,null)) as `OtherOptions`
from
ordered_item,
ordered_options
where
ordered_item.id=ordered_options.ordered_item_id
group by
ordered_item.id