What is the difference between .each() and $.each() ?

What is the difference between .each() and $.each() ?

Hi,

I know the function  $('element').each(), where you can do something like:

  2. $('li').each(function (){
  3.       $(this).css("color", "red");
  4.     }

but what is $.each() ?

If I wanted to use $.each()  for the above code, how could I do it?

Thanks