sounds like you have no idea how to approach it, yzhu182.
I can imagine it as 3 sprites.
Basket ball, Basket Board + back half of basket net, Front side of Basket Net.
z order:
bottom: board
middle: ball
front: net
The net should have transparency in the net holes and have an animation where it bulges a bit and back (effect of ball falling through)
Animation should play when ball is colliding with net.
Should be relatively simple to achieve.