The Loop Animation App ($1) lets you do quick and dirty frame based animation from you iPad. You not only have the ability to do free hand drawings but you can download video frames that you can trace over for cool animated effects. The resulting animations are 320px x 180px gifs that can be shared on Tumblr or Loops own gallery. I haven’t had this much fun for less that $1 in a long time. Check out the available tools after the break.