x.js 503 Bytes
var util = require('util');
var xml2js = require('xml2js');

var myxml = "<?xml version=\"1.0\" encoding=\"UTF-8\" standalone=\"yes\"?> \
<Items> \
  <Item> \
    <id>1</id> \
    <color>green</color> \
  </Item> \
  <Item> \
    <id>2</id> \
    <color>red</color> \
  </Item> \
  <Item> \
    <id>3</id> \
    <color>yellow</color> \
  </Item> \
</Items>"

xml2js.parseString(myxml, function (e, r) {
	console.log(util.inspect(r, false, null));
	console.log(new xml2js.Builder().buildObject(r));
});