So, I have been working on this for a while now. A long long while. I call it an animated still life, but it barely displays on my computer. It's (supposed to be) about 7.7 frames per second (0.13s per frame).
Foolishly made in photoshop using the animation tool, instead of Flash, like any sane person would use. The background is drawn using vectors and maths and stuff, but the mane, tail, waterfalls, and blink loops are all hand drawn.
In the end, I can say I'm proud of this. Real proud.
If this doesn't work properly, please check out a slightly smaller version [link]
Edit: It might also help if you wait 2-3 cycles. Sometimes it smoothes out after that