If you have a collection in your model and your View is strongly type, some variation of this will work:
@Html.DropDownListFor(x => x.RegionID,
new SelectList(Model.Regions,"RegionID", "RegionName", Model.RegionID))
-or-
@Html.DropDownList("RegionID",
new SelectList(Model.Regions, "RegionID", "RegionName", Model.RegionID))