How Do I Stretch or Skew an Image?

How Do I Stretch or Skew an Image? I am think it has something to with Lerp? Not really sure how to implement it. Oh I should probably tell you guys what I am trying to make. I want my image to stretch width wise and then come back. Then stretch height wise and then come back.

I am trying to create a "bouncy type" feel on a sprite I have. Thanks!

Edit:

Should I just animate it and then import the animation? Would that be less resource intensive?

To stretch image, just modify image width and height parameters on the fly. I have seen some nice tutorials on implementing this with C2, no link to offer at the moment. Sorry.

I don't think Skewing is possible without some effects or 3rd party plugin.

Edit:

Should I just animate it and then import the animation? Would that be less resource intensive?

Yeah.Just animate it.Then you won't have to mess up with the code.Just play the animation when the objects touches the ground