One way to do a wipe like that is to use a flowing liquid animation (or stock footage) as a track matte, for one layer to reveal the layer underneath.
Here's a downloadable project for a nice watercolor wipe that you can pick apart to see how it's done:
Since you're new to After Effects, I very strongly recommend that you start here and work your way through the basics. Doing so will prevent a lot of frustration.
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With practice and patience anything is possible, but as Todd suggested, try to learn some of the basics first. What you are trying to do could require some pretty advanced techniques, depending on how realistic you want it to be and what exacrt look you have in mind. Flowing/ dripping colors usualyl involve some form of displacement map in addition to using mattes, animated masks and things like Fractal Noise to create texture and shape, possibly combined with tons of bevel and gradient effects to create the illusion of shading. Really depends on how far you wanna go.
I will check out the tutorials, thank you very much for you're help todd.
Thankyou for your help mylenium and for letting me know what the job is going to involve