What you want to do is to save the image with transparency. Then overlay the other images you have with an offset relative to each other.
In html you can create a div with the size of one image and style position to relative.
Then add the images inside this div and position them using position style absolute.
<div style="position:relative;width:100px;height:100px;" id="effectforJQ" >
<img src="myimage1.png" style="position:absolute;left:0px;top:0px;" alt="" />
<img src="myimage2.png" style="position:absolute;left:10px;top:0px;" alt="" />
<img src="myimage3.png" style="position:absolute;left:0px;top:10px;" alt="" />
This will overlap the different pictures for you. You might (depending on which effect) apply your jQuery to the div. Hope this helps! (of course, change the sizes and position according to your needs).