The original Star Wars ASCII Animation, or ASCIImation, was initiated in 1997 by Simon Jansen. Today, there exists a smaller version of it on Thumby, made by Discord user @AyreGuitar.
In their first implementation, they produced a visually understandable reproduction of the ASCII animation: "Serious Eyestrain productions presents: ASCII Star Wars on Thumby! Using uncompressed text from the original here: https://asciimation.co.nz/ and a 1x3 [font]"
In their most recent update, readable subtitles are available with the tiny animations: "I've managed to extract and display subtitles now, although a little slower than I'd like, so it's readable (in theory - might need a magnifier). To maximise space it removes all the spaces and capitalises the first letter of each word. I think 3 lines is just enough for the longer bits of text, but had to squash the 'movie' from 26 lines to 22."
Their source files are posted in the Discord and available to all! Join the TinyCircuits Discord to see more updates directly from the community.