JSFiddle - React, Tailwind, and code Playground
HTML
<div id="test" contenteditable="true">Here's some original text!</div>
<button type="button" onclick="replaceText()">Click me!</button>
JavaScript
function replaceText(){
var orignalstring = document.getElementById("test").innerHTML;
var newstring = orignalstring.replace("original","replaced");
document.getElementById("test").innerHTML = newstring;
}