Как вариант:
<script src="http://code.jquery.com/jquery.min.js" type="text/javascript"></script>
<div id="slide">
<div class="div1"></div>
<div class="div2"></div>
</div>
<style type="text/css">
#slide {overflow: hidden;width: 100px;height: 100px;}
#slide div {width: 100px;height: 100px;}
.div1 {background: red;}
.div2 {background: green;display: none;}
</style>
<script type="text/javascript">
$(function(){
$('#slide div').click(function(){
$(this).slideToggle().fadeTo('fast', 0.1).siblings('div').slideToggle().fadeTo('fast', 1);
});
});
</script>