HUD_Message ("I'm happy!<smile>", 1) //text, scale

for (var k = 0; k < text.length; k++)
	{
	if (k > 0)
		length += 0.2 * scale;		//not important here
	if (text [k] != ' ')			//console says that this line is getting out of memory
		{
		var end = k;
		if (text [k] == '<')
			{
			end = text.indexOf ('>') - 1;		//getting symbol name
			k += 1;
			}
		var L = ccbGetSceneNodeFromName ('letter.' + text.substring (k, end + 1));	//getting a letter. Or a symbol, if it is a symbol of course
		...

end = text.indexOf ('>', k) - 1;

const str = 'String <smile> string <clap>.'
const outcome = [];

let emojiStr = '';
let isEmoji = false; 

for (var i = 0; i < str.length; i++) {
    if (str[i] !== '<' && str[i] !== '>') {
        if (!isEmoji) {
            // get letter str[i]
            print(str[i]);
        } else {
            emojiStr += str[i];
        }
    } else {
        if (emojiStr) {
            // get emoji emojiStr
            print(emojiStr);
        }
        emojiStr = '';
        isEmoji = !isEmoji;
    }
}