For your first step Create your design as you like.
Here i create new image with Image size (width=283, height=182) and background color
"white" in GIMP.
Now Select Ellipse Select Tool in Toolbox and select a elliptical region
mode,Select "Add to the current selection" mode and "subtract to the current selection".
After selection "fill selected area with a blue color" by using Bucket Full Tool in Toolbox
After select Layer -> Tranform -> Flip Horizontally from the menu,now previous selected area
is empty that "selected area fill with a blue color".
Now add one more effect: Filters -> Animation -> Waves from the menu.and watch
what happens to the image.
Now watch frames replace with 100ms.
After that create text layer using Text Tool in Toolbox
create duplicates of the text layer how many frames do you have? and now right click on the frame and
"Merge Down" those duplicates one per each frame separately.
After that select Filters -> Animation -> Playback Now play and Watch how the animation looks.
Our last step,sleect File -> Save Export File box will be appears in that box we select
Save As Animation option button.(GIF plug-in can only handle layers as animation frames)
and select "Export" -> "Save" button, now it saved with GIF animated logo design.