This is standard design fare, typographic interpretations of words. Probably every typography student in the world has had this as an assignment.
Animating them is fun, too, and is another common class project. So it's safe to say I've seen hundreds of variations of this assignment over the years.
This one, by Korean-born designer Ji Lee, is one of the best. It's clever, impeccably-produced, and uses sound to add a humorous dimension to the work. Enjoy!
PleaseEnjoy.com, the website of Ji Lee. I particularly like his Bubble Project and WTC Logo Preservation Project (click "Independent Projects" on the home page). Also, watch Ji Lee talk about the transformative power of personal projects via The99Percent.com.