JSFiddle - React, Tailwind, and code Playground

HTML

<p>
    <a href="http://stackoverflow.com">Stackoverflow</a><br/>
    <a href="http://superuser.com">Superuser</a>
</p>
<button>Replace</button>

JavaScript

$('button').click(function() {
    $('p a').replaceWith(function() {
        return $(this).attr('href');
    });
});