import re
p = re.compile(r'(?!\bbadger\b|\bmushroom\b)\b[^\s]+\b')
test_str = "badger randomword badger mushroom mushroom somethingelse"
subst = "mushroom"
result = re.sub(p, subst, test_str)
print(result)
aW1wb3J0IHJlCnAgPSByZS5jb21waWxlKHInKD8hXGJiYWRnZXJcYnxcYm11c2hyb29tXGIpXGJbXlxzXStcYicpCnRlc3Rfc3RyID0gImJhZGdlciByYW5kb213b3JkIGJhZGdlciBtdXNocm9vbSBtdXNocm9vbSBzb21ldGhpbmdlbHNlIgpzdWJzdCA9ICJtdXNocm9vbSIKICAKcmVzdWx0ID0gcmUuc3ViKHAsIHN1YnN0LCB0ZXN0X3N0cikKcHJpbnQocmVzdWx0KQ==