Cambiar o reemplazar elementos ArrayList usando la función set ()

import java.util.ArrayList;

class Main {
  public static void main(String[] args) {
    ArrayList<String> animals = new ArrayList<>();

    // add elements in the arraylist
    animals.add("Peacock");
    animals.add("Markhor");
    animals.add("Cow");
    System.out.println("ArrayList: " + animals);

    // change the element of the array list
    animals.set(2, "Dog");
    System.out.println("Modified ArrayList: " + animals);
  }
}
Outrageous Ostrich