Start by applying a nice gradient in radial mode to the background layer.
Create a circle using elliptical shape tool.
Create a few circles for the eyes using elliptical shape tool.
Create ears, neck and nose using the elliptical shape tool.
Create a wing shape using pen tool.
Enable "subtract from shape area" at the top bar. Create some circle shape as shown.
Duplicate the layer. Press Ctrl+T. Right click and select Flip Horizontal and place on the other side. Select all the layers and press Ctrl+G to group. This will be the first pose of bat.
Duplicate the group, move downwards and rotate the wings to create second pose.
Similarly create the third pose.
Open animation window. For the first frame hide all the group except first group.
Duplicate the frame. Hide the first pose and unhide the second pose.
Duplicate the frame. Hide the second pose and unhide the third pose.
Duplicate the frame. Hide the third pose and unhide the second pose.
Press Ctrl+Alt+Shift+S to save an optimized animated GIF.