Try this -
$( document ).ready(function() {
$("#select1").change(function(){
$("#select2 option, #select3 option").show();
var maxValue = 5 - $(this).val();
for (var i = 5; i > maxValue; i--)
{
$("#select2 option[value='"+i+"'], #select3 option[value='"+i+"']").hide();
}
});
});
Demo - http://jsfiddle.net/9DAE4/3/