SO fiddle

Test Fiddle mainly for SO Questions

by Nick Craver

HTML

<link rel="stylesheet" href="http://ajax.googleapis.com/ajax/libs/jqueryui/1.8.4/themes/overcast/jquery-ui.css">
<img src="http://dummyimage.com/300x200/000/fff&text=Hover+me!" />

JavaScript

$("img").hover(function() {
    $(this).height(function(i, h) { return h * 1.2; })
           .width(function(i, w) { return w * 1.2; });
}, function() {
    $(this).height(function(i, h) {
        return h / 1.2;
    }).width(function(i, w) {
        return w / 1.2;
    })
});