They're back! The Winnipeg Jets, that is...
This animation was made with Ulead GIF Animator 5. All that was needed was the logo, and the transform tool to flip it over.
The logo was "squeezed" 10 pixels narrower each frame until it was almost a sliver. Note for each frame after the initial one with the unsqueezed logo, the original logo object was duplicated, then transformed. A total of 11 objects are in this animation. The frames were then duplicated and reversed to complete the animation.