I'm pretty sure this is impossible, but. . .
I am trying to get a morphing effect (like on this page in the flash image rotator -> http://www.sikids.com) in jquery. Or at least an effect that is very similar. I saw that jquery UI had some morphing effects, but I haven't been able to find it. This is important to our client, so any effect that is as close as possible would be awesome.
It's not impossible... but it might be slow.
You'll have to use canvas to grab the image data and transform it. Check out this SO answer and this plugin, which might help make things easier. I haven't used that plugin so in IE, you might have to include an additional canvas plugin.