I'm going to bet that there are more elegant solutions, but I've been able to parse your json and place it into a standard javascript array with two elements.
The down side is that it is not a "general solution" to your question. It doesn't read the names of the variables stored and does the process in two steps.
At least this is a start, and hopefully we'll get some more professional responses.
FIDDLE
JS
var mytables = {"table": [
{value: 2, label: 'Dubstep' },
{value: 3, label: 'BoysIIMen' },
{value: 4, label: 'Sylenth1'}
],
"table1":[
{value: 11, label: 'Dubstep'},
{value: 12, label: 'BoysIIMen'},
{value: 13, label: 'Sylenth1'}
]
};
var myarray1 = [];
var myarray2 = [];
var finalarray = [];
for(var n=0; n < mytables.table.length; n++)
{
myarray1.push( mytables.table[n].value + ':' + mytables.table[n].label + ';' );
myarray2.push( mytables.table1[n].value + ':' + mytables.table1[n].label + ';' );
}
finalarray.push( myarray1 );
finalarray.push( myarray2 );
$('.putmehere1').html( finalarray[0] );
$('.putmehere2').html( finalarray[1] );