Ah - flipbooks! I studied animation in college and I loved it. Flipbooks are created using plain index cards and a lightbox that enables you to see through a few cards while you're drawing (for continuity and flow). It can take a LONG time to do one the length of these. Each frame/card is hand-drawn, hand-colored, etc. One can then film each frame and create a movie - what used to be another VERY time-consuming step. For now, I've just filmed myself flipping the books for you. Anyway - enjoy... And look it up - it is a really fun thing to do - even if it's just on the corner edges of a text book or some trashy novel. Click below for a primer.

http://www.nga.gov/kids/stella/activityflip.htm