This post shows how to use TinyMCE 4.1 WYSIWYG text editor in a Rails 4 application for editing content in a textarea field.
TinyMCE is a powerful online WYSIWYG editor with many plugins.
If you want to insert an image by selecting it from images stored on server or upload an image to server, then you need to have a file manager with tinyMCE. TinyMCE comes with a file manager which is not free.
elFinder is an open-source file manager which can be easily integrated with tinyMCE 4.1.