Yeah, I know, just what the world needs: another flash carousel. This should've been taken care of, as buttons and scroll bars have (lets say). But, for some reason, I always end up being forced to sit down and write yet another one.
So I've been trying to get closer to the mythical, reusable, discrete step, easy to configure tiovivo. Check it out. Fancy features on the way, but this one already works well. You define arbitrary positions, hook up a data provider and item renderer, and it'll take your items for a spin.
The code to the carousel is here; I hope you find it clean and easy to read. But the example mxml (check it out here) is a just chunk of mxml concocted to illustrate how to set the carousels up. In-line component data renderers, css, and business logic should've been ironed out if this were a real(er) app. This example takes your favorite artists from last.fm and tries to find concert photos for them on flickr. Previous-next controls move the items around the positions.
I'll add a couple more basic features in the future; but for now, if you can find a use for it, great! I'm not responsible, though, if a bug in it crashes you machine, kills your dog, or sends that drunken email draft you thought you'd deleted (how wrong you were!) to your ex.