Multi-Sony-Gradient > Virtual-Twisting created by combination of "rolling" the gradients over time AND deform tool. Added a Parent Motion track for "stretching" and elongating Ribbon and it works. Creating a virtual "wave" that material/ribbons have. Might add some softening: GB and/or GLOW.
You could try Digital Juice, they have lots of Swipes which sounds like exactly what you're after. I don't have their Swipes, think they come with matching sound FXs as well
Building your own is sure more fun though. As you've got PI you could add some particles to make it a bit flashier if that works. Sometimes I like to build my own stuff, others it's just easier when the job just has to get done to pull something out of a box.