We report on mid-rapidity mass spectrum of di-electrons and cross sections of pseudoscalar and vector mesons via $e^{+}e^{-}$ decays, from $sqrt{s} = 200$ GeV $p+p$ collisions, measured by the large acceptance experiment STAR at RHIC. The ratio of the di-electron continuum to the combinatorial background is larger than 10% over the entire mass range. Simulations of di-electrons from light-meson decays and heavy-flavor decays (charmonium and open charm correlation) are found to describe the data. The extracted $omegarightarrow e^{+}e^{-}$ invariant yields are consistent with previous measurements. The mid-rapidity yields ($dN/dy$) of $phi$ and $J/psi$ are extracted through their di-electron decay channels and are consistent with the previous measurements of $phirightarrow K^{+}K^{-}$ and $J/psirightarrow e^{+}e^{-}$. Our results suggest a new upper limit of the branching ratio of the $eta rightarrow e^{+}e^{-}$ of $1.7times10^{-5}$ at 90% confidence level.