The Next Generator in the VidGen is a bunch of squares.

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It's a nice and simple effect, with the squares constantly shifting in hue, and occasionally making stripes or circles, to keep things lively.
It looks best once you've activated Music Mode, with the little squares rippling along with the music.

This didn't take very long to make, but then trying to capture a 2 minute video with music was alarmingly difficult to do, and I tweaked and poked and prodded to try to get it to work.
The video capture definitely needs more work.
Grrr..

You can Play with the VidGen here.