Feature Request: Wavy Text Effect

I think it would be funny if there was a text effect that made the letters in a selected range do a sort of wavy motion, with the letters moving up and down one after the other. (The game Shovel Knight uses a text effect like this frequently, if you're aware of that game that's an excellent example.) I can't think of a very practical use for this, but it could be a fun way to add emphasis and expressiveness to words and sentences in a way that italics doesn't really capture. My immediate thought for how to enable it would be a single tilde (~) on each side of the message, since that character looks wavy, and it wouldn't conflict with the double tilde strikethrough effect. But if that doesn't work out I'm sure that it could be tied to some other character.