I think this was talked about a few pages ago.but snow and neko were both not online at the time so it didn't get attention.
anyway, i would suggest using the point of the clip (if wing hairclip) as the pointer but it should be clear that it's a hair clip.
if a wing pin, people might assume the base for the pointer.
is it possible to have a transition cursor for loading times like in windows? if so, you can use that for the animated cursors.