Parsing text and inserting images

Is it possible to insert images into text entities? Example:

text="I invented Pixi.js Kappa"

should end up inserting the well known "Kappa" emote in place of the text "Kappa"

My current idea is to use a container and parse each word of the text individually, creating PIXI.Text for each and adding them to the container. Is there an easier approach? This get's difficult when word wrapping is needed.