The code which produces the above is: 



<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 3.2 Final//EN">

<HTML>
<HEAD>
	<TITLE>Squash</TITLE>
<SCRIPT LANGUAGE="JAVASCRIPT">
<!--Variable initalization-->
presents=new Image();
presents.src="rem.gif";	
presents=new Image();
presents.src="newadventures.gif";

var pwhratio = 164/53;   //ratio of width to height for REM image
var nwhratio = 400/53;   //ratio of width to height for NewAdventures image
var increment = 8;
var step = 24;  // number of increments required to grow to full size (188 / 4)
var i = 0;
var x;
var startH = 0;  //starting width for the image
var endH = 188;
var squashedL;
var squashedW;

function init() {
  //Seq("seq").at(0.500, "doTrans(logo)");
  Seq("seq").at(0.900, "remPath.play()");
  Seq("seq").at(3.500, "advenPath.play()");
  //Seq("seq").at(5.00, "doTrans(subscribe)");
  Seq("seq").Play();
}
<!--Squash Function for REM logo-->
function squashPres() {                           //original width = 164
   presents=document.all('presents');
   presents.style.width = (presents.origW - (increment * i));
   presents.style.height= presents.origH;
   if (i < 14) {
      i++;
      setTimeout ('squashPres();',2);
   } else {
     i=0;
     squashedW = presents.width;
     expandPres();
   }
}
<!--Expand Back function for REM logo-->
function expandPres() {
   presents=document.all('presents');
   presents.style.width = (squashedW + (increment * i));
   presents.style.height= presents.origH;
   if (i < 14) {
     i++;
     setTimeout ('expandPres();',2);
   } else {
     i=0;
     presents.style.width = presents.origW;
   }
}


</SCRIPT>

<SCRIPT FOR=remPath Event=onstop LANGUAGE="JSCRIPT">
  squashPres();
</SCRIPT>


	
</HEAD>

<BODY onload="init()" BGCOLOR="Black">

<!--Sequencing Object-->
<OBJECT ID="Seq"
    CLASSID="CLSID:B0A6BAE2-AAF0-11d0-A152-00A0C908DB96">
</OBJECT>

<!--REM path object-->
<OBJECT ID="remPath" CLASSID = "CLSID:D7A7D7C3-D47F-11D0-89D3-00A0C90833E6">
        <PARAM NAME="AutoStart" VALUE="0">
        <PARAM NAME="Bounce" VALUE="0">
        <PARAM NAME="Duration" VALUE="1.0">
        <PARAM NAME="Shape" VALUE="Polyline(2, 700,100, 252,100)">
        <PARAM NAME="Target" VALUE="presents">
</OBJECT>

<!--New Adventures Path Object-->
<OBJECT ID="advenPath" CLASSID = "CLSID:D7A7D7C3-D47F-11D0-89D3-00A0C90833E6">
        <PARAM NAME="AutoStart" VALUE="0">
        <PARAM NAME="Bounce" VALUE="0">
        <PARAM NAME="Duration" VALUE="1.0">
        <PARAM NAME="Shape" VALUE="Polyline(2, 700,150, 135,150)">
        <PARAM NAME="Target" VALUE="newadven">
</OBJECT>

<DIV ID="wholething" style="position:absolute;top:0;left:0">

<IMG ID="presents" SRC="rem.gif" STYLE="position:absolute;top:100;left:700;visibility:visible" origW=164 origH=53 origL=270>

<IMG ID="newadven" SRC="newadventures.gif" STYLE="position:absolute;top:150;left:700;visibility:visible" origW=400 origH=53 origL=270  BORDER=0>
</DIV>

</BODY>
</HTML>