val.split(""), .each , RegExp , v == "*"
italic italicTagOpened italicTagOpened = !italicTagOpened;
, , output
var italicTagOpened = false;
$("#btn").click(function(){
var val = $("#usr").val(),
output = "";
val.split("").forEach(function(v,i) {
if(v == "*"){
if(italicTagOpened) output += "</i>";
else output += "<i>";
italicTagOpened = !italicTagOpened;
} else output += v;
});
$("#display").html(output);
});
https://jsfiddle.net/uyjqerg4/1/