$re = '/\\\\\\\\|\\\\\*|\*\*((?:\\\\\\\\|\\\\\*\*|\*(?!\*)|[\S\s])*?)\*\*/';
$str = '**bold**
**foo * bar **
**foo \\** bar**
**foo \\\\** bar** **
\\**bold** **
\\\\**bold**
';
$subst = "$0\t\t\t<strong>$1<strong>";
$result = preg_replace($re, $subst, $str);
echo "The result of the substitution is ".$result;
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 PHP, please visit: http://php.net/manual/en/ref.pcre.php