Here is another attempt at making procedural animated jellyfish using SV nodes in year 2020.

The nodes ingredient:
– SV Cylinder
– Oscillator
– Multi-Extrude

I also use Cloth sims just to add a bit of extra animation for the tentacles, where the top part is pinned.

You can really make a beautiful Jellyfish using SV nodes. I will spend a bit more time, but for now, I think this is the simplest method.