Custom Javascript - repost

Avg Bid (USD)
Project Budget (USD)
$30 - $250

Project Description:
I'm using this custom chat script here:

I'd like someone who can customize it to insert smiley faces, it uses a text node to return the content and I'm not sure how to modify it to replace smiley face inserts with html code. (for example: replace :) with a smiley face picture) Simple job, I want it done right away.

Here's what the function looks like:
function insertNewContent(liName,liText) {
insertO = document.getElementById("outputList");
oLi = document.createElement('li');
oSpan = document.createElement('span');
oSpan.setAttribute('className','name'); //for IE's sake
oName = document.createTextNode(liName+': ');
oText = document.createTextNode(liText);
insertO.insertBefore(oLi, insertO.firstChild);

Here's what needs to be changed (I think):
oText = document.createTextNode(liText);

Here's an example list of smiley faces:

Skills required:
AJAX, Javascript, jQuery / Prototype, PHP
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