This is an awesome link that Mark sent around the other day – a cool Mac-esque ‘Genie’ effect.
That effect is all very cool, but even more surprising is that it seems to be an Actionscripted effect, rather than a Pixel Bender effect. You can find the blog post from the guy that created this here, and even better can find a live online example here.

I love this genie effect, thank you
I need the same effect in AS 2.0 from where i can get it.
@Ashi – There’s not currently an AS2 version of that effect, but in theory you could rewrite the code back into an AS2 version. I don’t know how well it would work, but you could do it!
an similar one: http://activeden.net/item/genie-effector-10/123642
http://www.activeden.net/item/genie-effector-10/123642
Same effect done as a Pixel Bender Shader in Flash: http://www.aplweb.co.uk/blog/flash/gpu-suck-effect/