How would I morph a character?

For example take a transformer robot or the Hulk. How would I morph from one state to aother? Would it be purely an animation or do I need a beginning model and an end model and somehow transition between the two?

As far as I know unity has no support for morphing. There’s a plugin that you can buy but if you’re not looking to spent any cash then bones are the way to go about it.