if you want to toggle between show and hiding text or link.
Lets suppose you want to toggle the paragraph by clicking some link here its how you do it.
<html>
<head>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8" />
<title>Untitled Document</title>
</head>
<body>
<a id="toggle" href="#" style="font-size:20px;">Click Me to show the Paragraph</a>
<p id="toggle1">This is the Paragraph for the sake of this demo. Click the above link to Hide me.</p>
<script type="text/javascript" src="http://ajax.googleapis.com/ajax/libs/jquery/1.3/jquery.min.js"></script>
<script>
$("#toggle").click(function(){
$("#toggle1").toggle('slow');
});
</script>
</body>
</html>
I Hope this is what you want cuz your question is unclear..