I am after a text are like the one in the quick reply at the bottem of this page,
I have no idea what the propper name is for them
I have no idea to do the coding for it, but would like to be able to let my friends change the font and style of writing when my friends leave a message on my website
you need a wysiwyg editor. i only know 2 examples of this editor. fckeditor and tinymce. they are freeware so you can download them for free.
you could install wordpress and allow them to do it with little or no coding. http://wordpress.org/
or do a jquery wysiwyg editor if you wanted it to be more custom http://plugins.jquery.com/taxonomy/term/515
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