The Splash plugin displays an animated splash logo whenever Compiz is launched. The splash is customizable and consists of two parts: an unmoving foreground image, and a larger background image that ripples and waves behind it.
The JPEG, PNG, and SVG plug-ins under Image Loading should be enabled. The default keybinding is ctrl+F11

Settings

Appearance
Fade Time: How long it takes for the splash to fade in and fade out
Display Time: How long the splash will remain visible on the screen
Saturation: The color saturation level of the rest of the screen behind the splash
Brightness: The brightness level of the rest of the screen behind the splash

Images
Background File: The full path to the background image file (which will be animated behind the logo)
Logo File: The full path to the logo image file (which will be superimposed on the background)

Main
Initiate Splash; The key binding for manually displaying the splash. (Default: F11)
Show on first start: Whether or not the splash screen is automatically triggered when Compiz launches