This time round I watched youtube videos of jellyfish, then worked out a simple parameterised jellyfish - they basically have four bits, a head which doesn't bend, a mantle which does, tentacles, mouth parts.
Then I set about a simple model for each: a very flat cone, a cylinder, a spring, some coils around a spring.
Then the animation - the bottom of the mantle where the tentacles attach goes up and down and left to right in a sin wave, where the down and in parts of the cycle are very fast and the up and out ones are slower. Add a bit of gravity to make the tentacles drag, otherwise the springs look after themselves.
For fun I made the jellyfish flock a bit, they look for neightbours and try to get close to each other, but if they get too close they run away.
Finally, shove a glowing pixel shader over the top to make it schmick.
You can then shove in different radii, segment count, pulse speeds, colours, tentacle lengths etc to get lots of different ones.
I have the A4 piece of paper where I worked all this out before I started - once the dust has settled here I'll scan it in and post it up.
Jim