JSFiddle - React, Tailwind, and code Playground
by mblase75
HTML
<li><a href="/"><img src="image.png"/> text to be converted to element </a></li>
JavaScript
var someLink = $('a');
var someText = someLink.text();
var someImg = someLink.find('img');
var theElement = $('<p>' + someText + '</p>');
someLink.html(someImg).after(theElement);