To create a flip animation effect in PowerPoint, two graphics are needed - one for the front view and one for the back view. Both graphics should be the same size and positioned directly over each other. Each graphic is given a Collapse exit animation and Stretch entrance animation with the same speed and direction. The animations are ordered so that the front graphic collapses and the back graphic stretches, then the back graphic collapses and the front graphic stretches again, flipping the graphic back and forth. Triggers like arrows can be added so that the flip animation plays when the triggers are clicked instead of automatically.