I was looking for the best answer performance-wise while working on an important DOM.
eyelidlessness's answer was pointing out that using javascript the performances would be best.
I've made the following execution time tests on 5,000 lines and 400,000 characters with a complexe DOM composition inside the section to remove. I'm using an ID instead of a class for convenient reason when using javascript.
Using $.unwrap()
$('#remove-just-this').contents().unwrap();
201.237ms
Using $.replaceWith()
var cnt = $("#remove-just-this").contents();
$("#remove-just-this").replaceWith(cnt);
156.983ms
Using DocumentFragment in javascript
var element = document.getElementById('remove-just-this');
var fragment = document.createDocumentFragment();
while(element.firstChild) {
fragment.appendChild(element.firstChild);
}
element.parentNode.replaceChild(fragment, element);
147.211ms
Conclusion
Performance-wise, even on a relatively big DOM structure, the difference between using jQuery and javascript is not huge. Surprisingly $.unwrap() is most costly than $.replaceWith().
The tests have been done with jQuery 1.12.4.