Is it possible to change tinyMCE custom Toolbar ListBox values after tinymce init - tinymce

Question

Following example is add a custom dropdown to tinyMCE, is it possible to change again after init tinyMCE? for example, after init the tinyMCE, update the list again by another button by different list.
https://codepen.io/tinymce/pen/JYwJVr
tinymce.init({
selector: 'textarea',
height: 500,
toolbar: 'mybutton',
menubar: false,
content_css: [
'//fonts.googleapis.com/css?family=Lato:300,300i,400,400i',
'//www.tinymce.com/css/codepen.min.css'],
setup: function (editor) {
editor.addButton('mybutton', {
type: 'listbox',
text: 'My listbox',
icon: false,
onselect: function (e) {
editor.insertContent(this.value());
},
values: [
{ text: 'Menu item 1', value: ' <strong>Some bold text!</strong>' },
{ text: 'Menu item 2', value: ' <em>Some italic text!</em>' },
{ text: 'Menu item 3', value: ' Some plain text ...' }
],
onPostRender: function () {
// Select the second item by default
this.value(' <em>Some italic text!</em>');
}
});
}
});

Answer 1

I didn't find any choice that I can update only for the custom dropdown. This is not what good way but the only way I can make it work. So what I did was remove tinymce and re-add it again.
tinymce.remove();
tinymce.init({
selector: 'textarea',
setup: function (editor) {
var self = this;
editor.addButton('mybutton', {
type: 'listbox',
text: 'myList',
icon: false,
onselect: function (e) {
editor.insertContent(this.value());
},
values: newList,
onPostRender: function () {
// Select the second item by default
this.value(' <em>Some italic text!</em>');
}
});
}
});