Yes but it would be better to use the DOM cloneNode(true) as it would retain all of the child nodes and properties:
// Copy the node.
var theOldChild = document.getElementById("theParent").childNodes[blah]
var theNewChild = theOldChild.cloneNode(true);
// Find the next Sibling
var nextSib = theOldChild.nextSibling();
// Remove the old Node
theOldChild.parentNode.removeChild(theOldChild)
// Append where it was.
nextSib.parentNode.inserertBefore(theNewChild, nextSib);
That is the way that I would do it as you can hold onto the variable "theNewChild" 100% as it was and insert it back into the document at any time.