Tryit Editor v1.8

Source Code:
<!DOCTYPE html> <html> <head> <script src="../../ajax.googleapis.com/ajax/libs/jquery/1.10.2/jquery.min.js"> </script> <script> $(document).ready(function(){ $("img").error(function(){ $("img").replaceWith("<p>Error loading image!</p>"); }); }); </script> </head> <body> <img src="errorimg.gif"> <p>If the image above encounters an error, it will be replaced with a specified text.</p> </body> </html>
Result:
W3Schools.com - Try it yourself