The following works for me. What's different about your code?
<script src="https://ajax.googleapis.com/ajax/libs/jquery/1.4.2/jquery.min.js"></script><img src="foobar"><a href="#" onclick="$('img').attr('src', 'http://player.vimeo.com/video/43550778?title=0&byline=0&portrait=0&color=ababab');">click</a><a href="#" onclick="$('img').removeAttr('src');">remove</a>