gistfile1.txt

<!-- Method One -->

<span id="specific-item">Show more</span>

$('#specific-item').click(function() {
  $(this).text('Show less');
});



<!-- Method Two -->

<span class="js-textEdit" data-text="Show less">Show more</span>

$('.js-textEdit').click(function() {
  var oldText = $(this).text();
  var newText = $(this).attr('data-text');
  
  if ($(this).text('oldText')) {
    $(this).text('newText');
  } else if ($(this).text('newText')) {
    $(this).text('oldText');
  }
});