WinMorph is highly optimized
morphing and warping software that you can use to morph/warp images
and videos. WinMorph is one of the fastest morphers currently
available with high quality output and professional tools to ease
your work (intuitive shape based editing). It runs as a standalone
application or as a "plug-in" for various video editors/compositors
like Adobe Premiere, VegasVideo and Wax. Freeware, but excellent
support from the author. Flash-based tutorials are available showing
how to use WinMorph, along with sample projects for image/video
warping and morphing.