You can make a blinking text or a blinking link by enclosing them in the blink tags.
<blink> your text to blink </blink>
The blinking methods and time may vary with different browsers. Some browsers it may not blink at all.
However it works in Mozilla, Firefox, opera etc.
It should also be noted that, blinking text might be harmful for people with image disorders and might even make the page unclear and annoying to read. If you use it, use it wisely.