let\'s say I have a markup like this:
...
...
...
and
....but $('span', $('#foo')); doesn't work?
This method is called as providing selector context.
In this you provide a second argument to the jQuery selector. It can be any css object string just like you would pass for direct selecting or a jQuery element.
eg.
$("span",".cont1").css("background", '#F00');
The above line will select all spans within the container having the class named cont1.
DEMO