symmetric deformation of a tube - Displacement Animation or .fbx import?

[Renderhouse]

I got a request to animate the deformation of a tube. I assume it wont work with a video displacement. But maybe it does.
Or maybe doing it in Blender and export a .fbx file? (I have no experience in Blender)

The end result would bei like this just nicer:
https://www.youtube.com/watch?v=LFly3VRqjiE

[Renderhouse]

I did it with a movie