Using image magic   Freds scripts  
        texteffect                          http://fmwconcepts.com/imagemagick/texteffect/index.php
        shapemorph 
        
        texteffect -t "Todays Facist" -s outline -e arc-top -a 100  -f Arial -p 48 -c red-blue -b none -o black -l 1 -u none obama.01.eyes.jpg obama.01text.eyes.gif
           output is a gif file with -b none -u none  transparent         arc-top
           
        convert obama.01.eyes.jpg obama.01text.eyes.gif -gravity north -composite obama.facist.gif
            composite image with text  arc-top text is put gravity north 
        
	texteffect -t "Todays MAFIA" -s outline -e arc-bottom -a 100 -f Arial -p 48 -c red-blue -b none -o black -l 1 -u none obama.01.eyes.jpg obama.01text.mafia.gif
	   output is a gif file with -b none -u none  transparent         arc-bottom
	   
	convert obama.01.eyes.jpg obama.01text.mafia.gif -gravity south -composite obama.mafia.gif
	   composite image with text  arc-bottom text is put gravity soutn 

	shapemorph "0,0 373,335" obama.facist.gif obama.mafia.gif obama.today.gif
	    make animated gif shape sweep from upper left to lower right.

    final file 

original image text arc-bottom composite arc-bottom

shapemorph final file http://www.fmwconcepts.com/imagemagick/shapemorph/index.php