Good question, Jason. I imagine the jQuery selector function notices the this
keyword fairly efficiently. That said, it does make sense to not make repeated calls to the same selector if you can avoid it. This is where method chaining comes in useful:
$(this).hide().show().hide();
If you're going to use the same selector a lot at different points in the same function, I'd probably make a variable to store the return value of the jQuery selector function. Absent that, I wouldn't worry about it, because it's really a very, very small amount of processing that is done...especially since I'm fairly sure the jQuery library checks for the this keyword (and a string type) before it runs any regular expressions.