I have DIV tag with text inside. Is it possible to change the text content in a loop with a typing effect, where it types out, then goes backward deleting the letters and s
Jquery's text() method lets you set the text of an element.
http://api.jquery.com/text/
You would be able to use this to animate the contents by calling this in a loop, giving it the contents that you'd like to see in each frame.
var frames = ['t_', 'ty_', 'typ_', 'type_']
// loop over frames ... inner part reads frame and prints it
// use setInterval, etc.
$('#my-div').text( frames[i] );
I've done more complicated things by splitting the text elements and manipulating the characters but I think in your case it would be overkill.