Castlevania IV was the first SNES game I bought with my own cash, and I played the crap out of it XD.
Basically it would need to be setup as a linked chain of objects that move in conjunction with the head. Very close to what alextro has provided. The chain links(vertebrae of the skeleton's spine) were loose, and would overlap if they were within range of each other. In the original game anyways.
Basically the head of the thing would move around in circles, or figure eight motion. While pausing here and there to fire out a fireball from it's mouth. And the chain links attached to the head would dangle and move around. Like a loose hanging chain between the head, and the wall the other end is attached to.
I've never attempted anything like this sort of animation. But, I wonder if a timeline could be nice for something like this? That is if you want to take the time to animate each key frame, and link into position. And have pauses where it stops and fires out a fireball at the proper times.
Might be worth playing around with. I wish I had more time, to toy around with ideas like this one. Tomorrow is "my day off", so I'm on the computer least amount of time possible. But, maybe I'll hop on for an hour or so, and have a whack at it.