rotaterator.js

(function($){
    $.fn.extend({ 
        rotaterator: function(options) {
 
            var defaults = {
                fadeSpeed: 500,
                pauseSpeed: 100,
                child:null
            };
             
            var options = $.extend(defaults, options);
         
            return this.each(function() {
                  var o =options;
                  var obj = $(this);                
                  var items = $(obj.children(), obj);
                  items.each(function() {$(this).hide();})
                  if(!o.child){var next = $(obj).children(':first');
                  }else{var next = o.child;
                  }
                  $(next).fadeIn(o.fadeSpeed, function() {
                        $(next).delay(o.pauseSpeed).fadeOut(o.fadeSpeed, function() {
                            var next = $(this).next();
                            if (next.length == 0){
                                    next = $(obj).children(':first');
                            }
                            $(obj).rotaterator({child : next, fadeSpeed : o.fadeSpeed, pauseSpeed : o.pauseSpeed});
                        })
                    });
            });
        }
    });
})(jQuery);

 $(document).ready(function() {
        $('#rotate').rotaterator({fadeSpeed:1200, pauseSpeed:100});
 });