$ echo '<div style="background-color:{{#if: #DCDCDC|#DCDCDC|#F0F0F0}};">foo</div>' | php bin/parse.php                                                                                                    130 ↵
<div style="background-color:
DCDCDC;" about="#mwt2" typeof="mw:ExpandedAttrs" data-parsoid='{"stx":"html","a":{"style":"background-color:\nDCDCDC;"},"sa":{"style":"background-color:{{#if: #DCDCDC|#DCDCDC|#F0F0F0}};"},"dsr":[0,73,64,6]}' data-mw='{"attribs":[[{"txt":"style"},{"html":"background-color:&lt;span about=\"#mwt1\" typeof=\"mw:Transclusion\" data-parsoid=&apos;{\"pi\":[[{\"k\":\"1\"},{\"k\":\"2\"}]],\"dsr\":[29,62,null,null]}&apos; data-mw=&apos;{\"parts\":[{\"template\":{\"target\":{\"wt\":\"#if: #DCDCDC\",\"function\":\"if\"},\"params\":{\"1\":{\"wt\":\"#DCDCDC\"},\"2\":{\"wt\":\"#F0F0F0\"}},\"i\":0}},\";\"]}&apos;>\n&lt;/span>&lt;ol about=\"#mwt1\" data-parsoid=&apos;{\"dsr\":[null,62,0,0]}&apos;>&lt;li data-parsoid=&apos;{\"dsr\":[null,62,1,0]}&apos;>DCDCDC;&lt;/li>&lt;/ol>"}]]}'>foo</div>