Partially collapsing text widget.

I have a client who has a lengthy ‘about’ blurb they want in a text widget in her sidebar. She’d like to be able to do something like this: http://www.dynamicdrive.com/dynamicindex17/animatedcollapse.htm though perhaps more elegantly.

So:

{her picture}
Paragraph text, blah blah
blah blah blah. Blah blah
blah blah blah. {link:
read more right here}

When clicked, the rest of the story will show up right there in the sidebar, but the ‘read more right here link’ will disappear and a “collapse story” link will appear at the bottom of the story.

Are there any plugins that would help us out here? I can’t seem to find one that will work, likely because this is an unusual request.

Thanks