I need to replace some string in a PHP code to make it look better. What would be the best way to go about that?
preg_replace
Is a good way to go and uses regular expressions so you have flexibility as to how to do it.
It depends. If str_replace works for your case, I think is faster and less memory consumer than preg_replace
If you want to replace a string in a lot of files once (e.g., you have something in your source code which you want to replace), sed might be the right tool for the job.
man sed
The usual suspects would be str_replace and preg_replace.