On a lilac blue gradient background, we see a dot writing "Feature Presentation" in a handwriting script font (called Laser LET).
Scare Factor Edit
Regular Variant: Medium to high. Some people might not like the font the words are written with, and the text being animated (in stark comparison to the previous bumpers of the era that used still text) may startle more than a few people. Others may dislike the sudden fanfare as well as the announcer's voice.
Thanks For Joining Us for this special preview Variant (which was first used in 1996 which was the introductory year of Curved eyebrow roofed McDonald's buildings): More Scarier than the original version because the announcer in the Thanks for joining us for this special preview version sounds freaky.
Navy Blue Variant: Medium to nightmare because of the darker background, as well as the sudden fanfare, announcer, and animation/font of the text. The scare factor may be raised due to the logo being followed by the distorted Walt Disney Classics logo. Because of both said reasons, the variant overall seems more ominous than the other variants, so it will be sure to scare many people, especially those who aren't scared of the original version.
None to minimal for those who are used to seeing both the original variant and the Navy Blue variant.