SO fiddle
Test Fiddle mainly for SO Questions
by Nick Craver
HTML
<link rel="stylesheet" href="http://ajax.googleapis.com/ajax/libs/jqueryui/1.8.4/themes/overcast/jquery-ui.css">
<img class="myClass-1" src="img5" />
<a class="myClass-2" href="url"></a>
CSS
div { border: solid 1px #ddd; }
JavaScript
$('img.myClass-1').each(function(){
$(this).next().andSelf().wrapAll('<div style="position: relative;" />');
});