This tutorial explains and shows that there are some special effects built into iMovie.

This tutorial shows how to do the following video effects: Flipped, Raster, Cartoon, Aged Film, Film Grain, Hard Light, Day into Night, Glow, Dream, Romantic, Vignette, Bleach Bypass, Old World, Heat Wave, Sci-Fi, Black and White Film, Sepia Film, Negative (reverse colors), X-Ray, Lens Flare, Flashing Lights (Boogie), Camera (pull) focus.

This tutorial also features a demo reel of iMovie’s Video Effects.

Check out the iMovie Special Effects playlist!