what do you really want to do? if you want to search and replace and in the return variable of your htmlstuff function then you are not too far away from the correct answer.
function htmlstuff() {
$htmlstuff = "<p>html text content here</p>";
return $htmlstuff;
}
echo htmlstuff();
str_replace($search,$replace,htmlstuff());
this should do the trick
if you just want to make the function htmlstuff more dynamic, then you should take a different approach. something like this:
function htmlstuff($html) {
$htmlstuff = "<p>".$html."</p>";
return $htmlstuff;
}
echo htmlstuff("html text content here");