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$('#id').toggleClick(
function() {
  // code 1
},
function() {
	// code 2
});

$.fn.toggleClick = function() {
  var functions = arguments;
	return this.bind('click', function() {
		var iteration = $(this).data('iteration') || 0;
		functions[iteration].apply(this, arguments);
		iteration = (iteration + 1) % functions.length ;
		$(this).data('iteration', iteration);
	});
};