First, I isolated the fish and the upright bar at gifworks.-optimize, show frames and then crop and smart crop.(I did the bubbles since I don't have a set of the letters made like that or the font to make them-although I'll be looking now!) Saved both to site.

Second I took a transparent tile-65X65-to IM and using composite, over, tile across and down image checked) I made a bg gift of the bubbles. Saved to site.
Third I opened up a transparent banner at IM using the height of the fish(65) and for the width I went with 560-after making it I saw that 480 would have worked.) On the banner I annotated THANK YOU using Ariel Bold, white-fill, 50 pointsize, 80 density, no stroke at Northwest +50+50. I jumped a step ahead and composited the fish to be sure it looked correct then backspaced to return to original annotated banner. Now I hit composite and using the bubble tile I had made composited, using center, atop, tile across and down image checked. This created the bubble effect for the letters. Using Paint, matte-replace-fuzz 1999 I clicked on the white in the image and removed it. Finally I composited the fish onto the banner northwest +375+0 over (removed check mark from tile across and down.) This gave me the final image for the animation.using paint I filled i the banner with a white background-paint color replace white. which I saved to site (output-gif-multi frame file) in an empty folder-figured nine or so frames for image so named it so it would fall in the last place of the folder when completed. Now I returned to IM with the blank banner again and started over deleting the U from THANKYOU and following all the above steps (subtracted 50 from the location numbers for the fish composite.)Also saved this to site naming it so it fell before the l file. Repeated until I had one banner for each frame of the aniation starting with just the fish on the left and ending with the complete banner. Added a final blank white banner for the final frame for looping http://www.wtv-zone.com/captainraider/ani/
Returned to IM and imputed the above addy(don't forget the closing/) (as you now this will only work at Tripod and Wtv-Zone sites-at least I haven't heard of any new sites it will work at yet.) From the view screen I went to output-gif multi frame file delay-60 loop-100 and hit output-saved result to site.
Took the image addy from my filemanager and went to gifworks.Loaded the image and under edit scrolle to transparitize and clicked on the white background.Saved result to site.
Well that's it. Normally IM remembers your settings if you return with the same image during a session-however with our cookies so unstable I'd copy down any imputs you were using to insure consistency.As you can see in the final product there was a hiccup in the system and the letters are just slightly smaller after the first three frames. Hope this helps.Hollar if something isn't clear.
JON