Add new effects to your Live Photos by using the loop and bounce options.
Snap a Live Photo, then find it in your Camera Roll. Open up the image, swipe upwards, and you’ll be presented with new options.
These are loop, which means your Live Photo will loop its clip over and over. Where possible, it tries to make a seamless loop by merging the beginning and end of the clip. iOS then puts this image in a new Animated smart album.
Another option is bounce. Selecting this means when the clip reaches the end, it will then bounce back the other way and run the clip backwards. This will then loop over as well.