It's not the first time I mess with plane deformations, I also did some
Pixel Bender experiments with them some years ago.
The principle of this technique is to apply a formula to every pixel of the output bitmap. If you know about shaders of Pixel Bender you know how this works.
Depending of the formula you're going to deform a source texture creating different forms. Javascript seems to be quite fast doing Math computations, the bottleneck, as usual, is drawing the pixels to the bitmap. So I thought it was worth porting the code and the formulas in order to get a base for it and have yet another experiment to test the new browser versions with.

Once again, using shaders we'll be able to do this kind of effects with much better resolution and speeds as soon as
WebGL gets enabled on browsers by default.
Until then,
feel free to take a look at the code and mess with the formulas.