Illusionist Buterfly Locket

I am sure many of you have seen the illusionist. If you haven't rent it today. In the movie there is a butterfly pendent that looks cool but could not work in real life(image would get ripped in half). I have been trying to figure out how to make it work and I just figured out a way that would work and be almost the same as in the movie.

V1.1 has a cut out for a necklace.

Video of it working available at: http://www.youtube.com/watch?v=u0XMJx0voJU