You mean something like this?
<html>
<head>
<script src="http://code.jquery.com/jquery-1.7.2.min.js"></script>
<script>
function find(text){
$('li').filter(function() {
return $(this).text() == text;
}).css("background-color", "red");
}
</script>
<style>
</style>
</head>
<body>
<ul>
<li>
Fruits
<ol>
<li>Apple</li>
<li>Grape</li>
</ol>
</li>
<li>
Sports
<ol>
<li>Cricket</li>
<li>Tennis</li>
</ol>
</li>
</ul>
<button onclick="find('Grape');">find Grape</button>
</body>
</html>