Nutcracker, what's your problem, the animation is quite fluid.
It's a nice piece, but when the thing is fully out the water, the shading of his "neck" (the brown area) is suddenly changing, that looks a bit odd.
Well i really like it, very smooth, love the colors and design of the draco. Also i think the water running off his skin as he pops out of the water is a nice touch. I also agree with the other comments that the water ripples are better off gone. And one suggestion i have is to add an additional frame to the beggining of the animation without the draco showing. 2 changes and it would be perfect! IMHO
Keep up the good work! :D
Edit*
oh just noticed that when he is fully out of the water there is a transparency issue right under his first spike off the back of his head. looks like 2 little pixels got missed and painted white instead of transparent.
Not a good animation man, you need more in betweens and it should be eased more. Though i like the look of it.
Eeh, I don't like the banding on the ripples, but other than that it's good stuff.
Very cool sea serpant animation!