Perl, 58 bytes

sleep print"\ec",$-++%2?'\o/
_0_
':'_o_
 0
/ \\
'while 1

Tested with Bash. I don't know for sure, but for Windows cmd, the following might work:

sleep print`cls`,$-++%2?'\o/
_0_
':'_o_
 0
/ \\
'while 1

(Anyone that could confirm Perl on Windows, that'd be great!)