Quick attempt. Not exactly photo-realistic. It's 1 color, animated between three frames to simulate 3 shades.

EDIT:
I made it transparent (making it a little softer on the eyes) and added a background to better match the others. I'm tempted to go nuts on this, because I know smarter dithering all over and a frames (as opposed to 3) could probably create a much smoother image, but...eh. If anyone else wants to experiment with the idea, feel free. I used Photoshop and Ulead Gif Animator and outputted a 50fps animation with transparency.

EDIT2:
Did the BG mathematically and was able to get 9 different 'shades'. This was just using 3 ditherings (dots, dithered, solid missing dots). I've seen guys like Ptoing with a helluva lot more ditherings than 3 in a piece. It'd be cool to see a larger piece flickered at 1x size and really maxed out - see just how much depth and detail can be gotten from 1 color and some animation.
