How to do this in xsl

  I am new to this..
I have a set of statements like this..

<xsl:template match="//opt">
<font color="black">
<xsl:variable name="stringfirst">
<xsl:value-of select="substring-before(//opt,'|')"/>
</xsl:variable>
<xsl:value-of select="$stringfirst"/>
</font>
<font color="red">
<xsl:variable name="stringmid">
<xsl:value-of select="substring-after(substring-before(//opt,'\'),'|')" />
</xsl:variable>
<xsl:value-of select="$stringmid"/>
</font>

<font color="black">
<xsl:variable name="stringlast">
<xsl:value-of select="substring-after(//opt,'\')"/>
</xsl:variable>
<xsl:value-of select="$stringlast"/>
</font>

statement1 option1 statement1
statement1 option1 statement1

Regards,
Uma