I've seen some apps which allow you to turn your own gif. files into a live wallpaper, but based on reviews on the app store it seems that they drain the battery very quickly. Are there any other methods to create your own live wallpapers?
You could probably create your own with a little bit of designing and coding, but I'm not sure. Live wallpapers will drain the battery more noticeably than a regular wallpaper, but that should only happen when the scree is on. It's more than likely the apps themselves that cause the battery drain, even when the screen is off or the app is supposedly closed. Stock live wallpapers on smartphones don't drain the battery too badly over the course of a few hours. I'd blame the apps and not the wallpapers, but I don't have any workarounds for creating your own.