Something that's been done before, but this time totally in CSS. Works in Firefox, Opera and IE7. Not tested in IE6, but it should work too.
Uses a PNG image as a static background for a link set to display: block; and floating to the left. When a user hovers over the badge, it'll activate an animated GIF image to take over the background, and then by using the CSS hierachy we can manipulate the text to give it the "pressed button" effect by moving it one pixel down and to the right.
Looking for other spinning objects?