You'd just need to make an animated GIF - there are a ton of utilities around to do that. A quick google found these - http://www.snapfiles.com/freeware/gmm/fwani.html - and I'm pretty sure that Jasc's Paint Shop Pro still comes with a GIF anamation utility (it used to!).
Daniel, just as arjoll pointed out - bunch of programs can do. I don't really know any of them though... I've been using Corel for all graphics since...hmmmm - forever, and a bit of adobe Photoshop (which I never got frendly with... just never had enough time to play with, nor real reason to do so ....)
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happy NEW YEAR to all, again !
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ahhh,
P.S.
speaking of animated reels, To "convert" your winamp to R-TO-R machine: USE THIS!,
it also "makes" your mp3s sound analog