activity_main.xmlMainActivity.java
<?xml version="1.0" encoding="utf-8"?>
<android.support.constraint.ConstraintLayout xmlns:android="http://schemas.android.com/apk/res/android"
    xmlns:app="http://schemas.android.com/apk/res-auto"
    xmlns:tools="http://schemas.android.com/tools"
    android:layout_width="match_parent"
    android:layout_height="match_parent"
    tools:context="com.codinginflow.clickablespanexample.MainActivity">

    <TextView
        android:id="@+id/text_view"
        android:layout_width="wrap_content"
        android:layout_height="wrap_content"
        android:text="I want THIS and THIS to be clickable"
        android:textSize="20sp"
        app:layout_constraintBottom_toBottomOf="parent"
        app:layout_constraintLeft_toLeftOf="parent"
        app:layout_constraintRight_toRightOf="parent"
        app:layout_constraintTop_toTopOf="parent" />

</android.support.constraint.ConstraintLayout>

package com.codinginflow.clickablespanexample;

import android.graphics.Color;
import android.support.v7.app.AppCompatActivity;
import android.os.Bundle;
import android.text.SpannableString;
import android.text.Spanned;
import android.text.TextPaint;
import android.text.method.LinkMovementMethod;
import android.text.style.ClickableSpan;
import android.view.View;
import android.widget.TextView;
import android.widget.Toast;

public class MainActivity extends AppCompatActivity {

    @Override
    protected void onCreate(Bundle savedInstanceState) {
        super.onCreate(savedInstanceState);
        setContentView(R.layout.activity_main);

        TextView textView = findViewById(R.id.text_view);

        String text = "I want THIS and THIS to be clickable";

        SpannableString ss = new SpannableString(text);

        ClickableSpan clickableSpan1 = new ClickableSpan() {
            @Override
            public void onClick(View widget) {
                Toast.makeText(MainActivity.this, "One", Toast.LENGTH_SHORT).show();
            }

            @Override
            public void updateDrawState(TextPaint ds) {
                super.updateDrawState(ds);
                ds.setColor(Color.BLUE);
                ds.setUnderlineText(false);
            }
        };

        ClickableSpan clickableSpan2 = new ClickableSpan() {
            @Override
            public void onClick(View widget) {
                Toast.makeText(MainActivity.this, "Two", Toast.LENGTH_SHORT).show();
            }
        };

        ss.setSpan(clickableSpan1, 7, 11, Spanned.SPAN_EXCLUSIVE_EXCLUSIVE);
        ss.setSpan(clickableSpan2, 16, 20, Spanned.SPAN_EXCLUSIVE_EXCLUSIVE);

        textView.setText(ss);
        textView.setMovementMethod(LinkMovementMethod.getInstance());
    }
}