Panda and the Magic Serpent is considered to be the first full-length animated color film to emerge from Japan (1958).
Inspired by an old Chinese folktale, Panda and the Magic Serpent tells the story of Bai-Niang, a white snake with magic powers.
I found it on DVD at Wal-Mart for only $1. It was with a large assortment of slim-cased DVDs placed by the checkout counters. Keep an eye out for it. You can also get it from Amazon.com (although it costs more).
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