use strict;
my $str = 'This is a sample text containing a link <link>testlink</link>. And another link <link>testlink2</link>';
my $regex = qr/<link>(\w*)<\/link>/mp;
my $subst = '<a href="tooltip(\'\\1\')">\\1</a>';
my $result = $str =~ s/$regex/$subst/rg;
print "The result of the substitution is' $result\n";
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for Perl, please visit: http://perldoc.perl.org/perlre.html