Edit in JSFiddle

(function($) {

    $.fn.typer = function(options) {
        var defaults = {speed: 50},
            settings = $.extend({}, defaults, options);
        return this.each(function(e,options){
            var el = $(this), 
                text = el.html(), 
                chars = 0, 
                timeout = null, 
                tw = function() {
                    el.html(text.substr(0, chars));
                    chars += 1;
                    timeout = setTimeout(function(){tw();}, settings.speed);
                    if(text.length === chars){clearTimeout(timeout);}
                };
            
            el.html("");
            tw();
        });
    };

})(jQuery);

$(function(){
    $('div').typer({speed:25});
});

<div>Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.
    Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure
    dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non
    proident, sunt in culpa qui officia deserunt mollit anim id est laborum.
</div>
<div>
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</div>

div {border:1px solid #000;margin:0.5em;padding:0.5em}