CKEditor Inline - Dynamically changing toolbar buttons

How do I change the toolbar dynamically in CKEditor inline?

I have following function to change the toolbar but it doesnt work 

<button type="button" onclick="changeToolBar()">Change editor</button>
<p class="content" contenteditable="true">I\'m editable!</p>

function changeToolBar(){
  var myToolBar = [{ name: 'verticalCustomToolbar', groups: [ 'basicstyles'], items: [ 'Blockquote'] }];
 var config = {};
 config.toolbar = myToolBar;
 CKEDITOR.instances.editor1.destroy();//destroy the existing editor
 CKEDITOR.replace('content', config);       

}

I am not sure whether I am doing the right thing. Most of the posts on internet say you will have to destroy the exisisting toolbar. Is it possible to achieve this without destroying the toolbar? What I am trying to achieve is on some button click I want to show different options on the toolbar.

JSFiddle http://jsfiddle.net/RKPYw/17/

Thanks in advance.