$text = "This would be fun :)"
$newtext = str_replace(":)", "<img src='images/smiley.png'>", $text);
for a few replacement examples replace below php.net
$vowels = array("a", "e", "i", "o", "u", "A", "E", "I", "O", "U");
$onlyconsonants = str_replace($vowels, "", "Hello World of PHP");
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