I'm also a bit confused about what you're asking, but here are some things that may help.
If you're trying to apply this tooltip to a div with id="myiris", all you have to do is this:
$(#myiris").tooltip({
//your code here
});
Also, for the bodyHandler line, it looks like too much. Maybe try something like this:
bodyHandler: function(){
$("p").html("hello there").css(
'border' : '1px solid black',
'width' : '70px',
'height' : '20px',
'display' : 'block',
'color' : 'blue');
)};
Keep in mind that this will affect all p tags unless you specify it with an id or use traversal jQuery selectors using $(this) as your point of reference (which would be useful if you're trying to apply tooltips to more elements than just #myiris). e.g., if the <p> tag is a child of your <div id="myiris">, then you could reference it as $("#myiris").children("p"), then continue with the ".html()" and so on. I assume the .tooltip function applies to the element that the user is hovering over, so this example would apply to the <p> tag that is a child of the element that the user is currently hovering over. Otherwise, if you're only applying the tooltip to the one element #myiris, then you may as well just specify the <p> tag with an id, then reference it in your bodyHandler as $("#yourid").
As for the position or offset of the tooltip, this is probably built into the jQuery plugin that you're using and should have intuitive behavior out of the box. I wouldn't think that floating your div to the right or the left should affect the placement of your tooltip... I would expect the tooltip to appear relative to where the div is placed regardless of its float property, or even relative to the cursor position.
Hope that helps a bit. Anyone else have any suggestions or corrections on my comments?
PS - If you want more specific help with this issue, you'll probably need to post more code. Include a link to the jquery plugin that you're using and maybe some of your html code as well.