Because @Robert K and @mattcasey both have good code, I thought I'd contribute here with a CoffeeScript version, in case anyone in the future could use it:
String::unescape = (strict = false) ->
###
# Take escaped text, and return the unescaped version
#
# @param string str | String to be used
# @param bool strict | Stict mode will remove all HTML
#
# Test it here:
# https://jsfiddle.net/tigerhawkvok/t9pn1dn5/
#
# Code: https://gist.github.com/tigerhawkvok/285b8631ed6ebef4446d
###
# Create a dummy element
element = document.createElement("div")
decodeHTMLEntities = (str) ->
if str? and typeof str is "string"
unless strict is true
# escape HTML tags
str = escape(str).replace(/%26/g,'&').replace(/%23/g,'#').replace(/%3B/g,';')
else
str = str.replace(/