JSFiddle - React, Tailwind, and code Playground

HTML

<input type="text" id="test" name="test" placeholder="This is a test!">

JavaScript

// Create placeholder input to serve as background
var $test = $('#test');
var $placeholder = $test.clone().removeAttr('id').removeAttr('placeholder').addClass('placeholder').val($test.attr('placeholder'));
var $container = $('<span class="placeholder-container"></span>');
$container.insertAfter($test).append($test).append($placeholder);

// Basic styling
$container.css({
   position: 'relative'
});
$test.css({
    position: 'absolute',
    left: 0,
    top: 0,
    zIndex: 10,
    backgroundColor: 'transparent',
    borderColor: 'transparent'
});
$placeholder.css('color', 'transparent');

// Behavior for focus and blur to achieve the visual effect
$test.focus(function(){
   var $input = $(this);
   var $placeholder = $('.placeholder', $input.parent());
   $placeholder.css('color', '#e0e0e0');
}).blur(function(){
   var $input = $(this);
   var $placeholder = $('.placeholder', $input.parent());
   if ($input.val() == '')
       $placeholder.css('color', 'transparent');
}).keyup(function(){
    var $input = $(this);
    if ($input.val().trim() != '') {
        $placeholder.val('');
    } else {
        $placeholder.val($input.attr('placeholder'));
    }
});