Inserting an Image

I have a question about the InsertSmiley Function. How is it inserting the image into the editor?

When it calls the function it has this bit of code in the <TD>:
onclick="InsertSmiley(\'' + bUrl.replace(/'/g, "\\'" ) + '\')"
What are all those characters doing?

I need to be able to call this function outside of javascript. How do you do this? I NEED TO KNOW !