1. You need to edit the shape for this tutorial.
2. Create a new file.
View > Rulers
View > Grid > Show Grid
View > Grid > Edit Grid (10 X 10 px)
3. Drag the horizontal & vertical guide lines to get the center.
View > Guides > Lock Guides
4. Type 'LOOK' with proper size and font.
5. Select Subselect Tool (white marked). Click on the inner border of 'O'. It will display the anchor points.
6. Drag the bottom anchor point little upwards for both 'O'.
7. Take the help of grid and guidelines to edit the shapes uniformly for both 'O'.
8. Rightclick on the 5 th frame. Select insert keyframe.
9. Using Arrow Tool drag the shape little towards right.
10. Click anywhere between 1 to 5
Modify > frame
Select 'Shape' in the Tweening drop down menu.
11. Rightclick on the 10 th frame. Select insert keyframe.
12. Using Arrow Tool drag the shape little towards left.
13. Tween the frames from 5 to 10 using shape tweening.
14. Select 1st frame. Copy the frame. Paste it on 15th frame.
15. Tween the frames from 10 to 15 using shape tweening.
16. Save the file.
More Flash & Swish: 
