Create a cool jellyfish with the Squash n Stretch deformer, Softbody and Cappucino.
Notes: To capture PLA keyframes in Cappucino, select the object and click and hold down the left mouse key in the viewport. Make sure to Cache the simulation first.
TIP: Loop select the bottom rim of the body and add hair!
Original render: http://www.youtube.com/watch?v=YMlU4nooSGc