JSFiddle - React, Tailwind, and code Playground

HTML

<script src="//ajax.googleapis.com/ajax/libs/jquery/1.11.0/jquery.min.js"></script>
<div data-bind="myBinding: myObservable">
    <div data-bind="text: myOtherObservable"></div>
</div>

JavaScript

ko.bindingHandlers.myBinding = {
    init: function (element, valueAccessor, allBindings, viewModel, bindingContext) {
        var $element = $(element),
            $childElement = $element.find('div');
        
        //Move the inner div to before the current div, and it won't get processed.
        $(element).before($childElement);
    }
};

function ViewModel() {
    this.myObservable = ko.observable(false);
    this.myOtherObservable = ko.observable("Test");
}

ko.applyBindings(new ViewModel());