How to replace one substring with another in tail output?

Question

bash

Debian OS
connects to the server via ssh
Using
tail /var/log/proftpd/proftpd.log /var/log/proftpd/xfer.log -f | grep "192.168.0.1\|192.168.0.5"
I get the necessary lines from the log....
I would like to replace ip with meaningful inscriptions in the subsequent output to the screen...
How can this be done?

Answer 1

Correct option (see comments):
Initial variant:
Why not? :)

Answer 2

www.freeman.fr/2015/07/integration-des-logs-proftp...