If I understand correctly, you could bind the visible property of each div to a boolean that you flip each time a button is pressed.
HTML:
<input type="button" value="Toggle" data-bind="click: toggleView"/>
<div data-bind="visible: showGrid()">Grid</div>
<div data-bind="visible: !showGrid()">List</div>
View Model:
var ViewModel = function() {
var self = this;
self.showGrid = ko.observable(true);
self.toggleView = function() {
self.showGrid(!self.showGrid());
}
}
var vm = new ViewModel();
ko.applyBindings(vm);
Here's a jsFiddle.