Cool oldskool image effect

Does anyone know how to make this cool image effect
its on the title screen to this game (megaman vs ghosts goblins)
if you dont want to download 2mb to see what i mean ,i have made some snapshots here

this is been asked many time before it’s called an image stretch effect… try to do a search on the forum

this effect is easily done in photoshop. I’m not sure how its done in flash. Its probably bunch of stacked duplicated movie clips extending downwards.