I can see different values for picklist field. Let say i have a field on Custom object Country__c which stores values like FR, CN, IN, US but in record new page or detail page i can see France, China, India, United States. How they are logically linked ? any help would be great. Thanks.
Picklist data might have been mapped to standardized picklist values.
There is a standard picklist given in salesforce for Country and state.
From Setup > Data Management > State and Country/Territory Picklists