Get colorbox-inline working on Drupal 7

So I tried tons of things and this is what worked for me:

Step 1: install colorbox module 7x 2.8  
Step 2: go to sites> all> libraries and make sure colorbox folder reads "colorbox" only  
Step 3: use the following code as an example:

fiddle http://jsfiddle.net/bNa3Z/

HTML:

Show


    

        
Hello World
    

jQuery:

$(document).ready(function(){       
    $(".popup-thumb").colorbox({inline:true, width:"50%"});      
});

Source: http://stackoverflow.com/questions/14739897/colorbox-inline-not-working