Platnium, there are some tricks that you must learn to do simply "whatevercycles" easily (These are not general rules, you can complicate the animation as much as you can, but for simple animations, this tricks do well...)
One of the general rules is that the torso and head shape do not change. So, what frames do you want to use, 8? Then, make a head, and a torso in a frame with enough space to fit the legs and the arms. Copy that image 4 times. Leave the first torso untouched. Move the second one pixel down. Leave the third untouched. Raise the 4th one pixel up.
If you do that, you will have a torso in a static axis that moves up and down smoothly. Now attack legs and arms as seen in the reference image.
Now, copy what you have... and change the colour of legs and arms. You got it.

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I come here humble, trying not to repeat the mistakes of the past, for improving my art and try to help the others improving their own when I can...