how to change/edit value of label with jquery/javascript?

Question

i have a standart html label with value:

<label id="telefon" value="101"></label>

i like to edit this value by clicking on the label and enter on the appeared textbox new value (like value="202").

how can i do such a tricky thing?

i tried it with JQuery function, but it really dont wont to work:

$(function() {

  $('a.edit').on("click", function(e) {
    e.preventDefault();
    var dad = $(this).parent().parent();
    var lbl = dad.find('label');
    lbl.hide();
    dad.find('input[type="text"]').val(lbl.text()).show().focus();
  });

  $('input[type=text]').focusout(function() {
    var dad = $(this).parent();
    $(this).hide();
    dad.find('label').text(this.value).show();
  });

});

Solution

You don't need the jquery.

To made almost all tag elements editable set the contentEditable to true.

So, you can change using the default features of a HTML.