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that's a tween with a bounce easing. you can learn more about using the flash tween class by checking the flash help files or using google to search for a tutorial: flash as2 tween
thanks for the tips!
did you know of any links or templates that would have the actionscript for that already done that i could base mine off of?
I'm not sure how I would make the movieclip tween when I clicked on a menu button and have the text in it change as well.
do one thing at a time. if you don't know how to code a button, check the code samples in flash under the button or movieclip class. in particular, check the onRelease() method. once you can code a button to respond to a mouse click add the code to change a textfields text. then add your tweening.