Yes, there are several libraries that can provide this functionality. Some popular ones are:
- jQuery UI Autocomplete - a plugin for the jQuery UI library
- Select2 - a highly customizable select box replacement library
- Typeahead.js - a fast and fully-featured autocomplete library
- Autocomplete.js - a simple and lightweight autocomplete library
All of these libraries can be easily integrated into your HTML text area to provide a dropdown list of choices when the cursor is blinking.