Waterwheel Carousel is a jQuery plugin that you can use to display images with a cascading waterfall effect. It can be positioned either horizontally or vertically, and custom events can fired when an image moves into the center or clicked. It is a cross browser plugin that works in all major web browsers including IE6.
Waterwheel Carousel is highly customizable plugin, providing several configuration options to control its behavior. Implementation is also really easy and it require very simple markup to add it to your page. No CSS is really required on your part, since it only need minimum CSS to structure width, height, and hide the images while they are being preloaded.
Developed by Brian Osborne; Feature Carousel is available for download under GPL License. You can find further information, demo & download on Waterwheel Carousel Website.