For those who doesn't know:

An iris wipe is a wipe that takes the shape of a growing or shrinking circle. It has been frequently used in animated short subjects, such as those in the Looney Tunes and Merrie Melodies cartoon series, to signify the end of a story. When used in this manner, the iris wipe may be centered around a certain focal point and may be used as a device for a "parting shot" joke, a fourth wall-breaching wink by a character, or other purposes.

Example from flasheff.com

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