<p>
string Lorem Ipsum Lorem string Ipsum
<p>
<span>Lorem Ipsum string Lorem Ipsum Lorem Ipsum</span>
</p>
</p>
<span>s</span><span>t</span><span>r</span><span>i</span><span>n</span> <span>g</span>
<html>
<head>
<script>
function replaceStr(s) {
return s.replace(/string/g, "<span>s</span><span>t</span><span>r</span><span>i</span><span>n</span> <span>g</span>");
}
</script>
</head>
<body>
<br>
Original:<br>
<TEXTAREA id="central" cols="70" rows="5">
<p> string Lorem Ipsum Lorem string Ipsum <p> <span>Lorem Ipsum string Lorem Ipsum Lorem Ipsum</span> </p></p>
</TEXTAREA>
<br>
Replaced:<br>
<TEXTAREA id="replaced" cols="70" rows="5">
</TEXTAREA><br>
<button onclick="document.getElementById('replaced').value = replaceStr(document.getElementById('central').value)">Go</button>
</body>
</html>