In this post I give the demo of editable label 
using jquery. In this demo I create a label and textbox. And with the help of 
jquery I bind events to convert textbox into label and label to textbox for 
editing.
<html
xmlns="http://www.w3.org/1999/xhtml">
<head>
    
<title>Editable 
Label</title>
    
<script type="text/javascript"
src="http://code.jquery.com/jquery-1.10.1.min.js"></script>
    
<script type="text/javascript">
        $(document).ready(function 
() {
            $('#txt').blur(function () {
               
if ($('#txt').val().trim() 
!= '') {
                    $('#txt').hide();
                    $('#lbl').html($('#txt').val());
                    $('#txt').val('');
                }
            });
 
            $('#lbl').click(function 
() {
 
               
if ($('#lbl').html().trim() 
!= '') {
 
                    $('#txt').show();
 
                    $('#txt').val($('#lbl').html());
 
                    $('#lbl').html('');
                }
            });
        });
 
    
</script>
</head>
<body>
    
<div align="center">
       
<h4>
            Editable Label 
using Jquery</h4>
       
<span
id="lbl"
style="color: 
#ff0000; font-size: 
14px; font-weight: 
bold;"></span>
       
<input
id="txt"
type="text"
/>
    
</div>
</body>
</html>
 
Moving ball in jQuery.