I bought some software about six years ago for $5 (it was on the discount rack) called Ulead Morph Editor. It did exactly the job you described, morphing between two photo bitmaps to produce an AVI or a series of intermediary bitmaps.
Performing the task in VB alone would be rather time-consuming. When presented with the choice of buying a wheel and reinventing the wheel, you use additional software to implement the task. The technology is far from
"cutting-edge" (rather,
"old-hat").
If I remember correctly (it's been so long) it took about ten minutes to produce a smooth, convincing morph from a child's face to an adult's face, about five minutes to load the bitmaps into a control and write the timer code to show them in sequence and about one second to hit F5 and view the sequence (it would have been much easier to create an AVI and show it from VB but I had planned to perform additional manipulations of the bitmaps).
You can probably find dozens of freeware or shareware apps designed to perform the image manipulation portion of the task. If you are determined to design your own wheel, it shouldn't require much imagination to find a way to duplicate a morphing strategy in VB (it will just take a lot more work... something we have enough of as it is LOL)
Luckily, I was able to "justify" my "research" by using my tiny app to create a corporate screensaver (with different images). It is still in use after six years and I didn't have to lift a finger on the API (good thing, too! It was written in 16-bit VB version 2.0.)
Alt255@Vorpalcom.Intranets.com