Edit in JSFiddle

$(function() {
    var points = [], numPoints = 100, i, canvas, context, width, height, gravity = 0.1, emitter;
    
    canvas = $("#canvas")[0];
    width = canvas.width;
    height = canvas.height;
    context = canvas.getContext("2d");
    
    emitter = {x:width / 2, y:height};
    
    function initPoint(p) {
        p.x = emitter.x;
        p.y = emitter.y;
        p.vx = Math.random() * 4 - 2;
        p.vy = Math.random() * -5 - 4;
        p.radius = Math.random() * 5 + 1;
        p.color = randomColor();
    }
    
    function randomColor() {
        var r, g, b;
        r = Math.floor(Math.random() * 255);
        g = Math.floor(Math.random() * 255);
        b = Math.floor(Math.random() * 255);
        return "rgb(" + r + "," + g + "," + b + ")";
    }
    
    function update() {
        var i, point, len = points.length;
        for(i = 0; i < len; i += 1) {
            point = points[i];
            point.vy += gravity;
            point.x += point.vx;
            point.y += point.vy;
            if(point.x > width ||
               point.x < 0 ||
               point.y > height ||
               point.y < 0) {
                initPoint(point);
            }
        }
    }
    
    function draw() {
        var i, point, len = points.length;
        context.fillStyle = "rgba(0,0,0,0.05)";
        context.fillRect(0, 0, width, height);
        for(i = 0; i < len; i += 1) {
            point = points[i];
            context.fillStyle = point.color;
            context.beginPath();
            context.arc(point.x, point.y, point.radius, 0, Math.PI * 2, false);
            context.fill();
        }
    }
    
    function addPoint() {
        var point;
        if(points.length < numPoints) {
            point = {};
            initPoint(point);
            points.push(point);
        }
    }
    
    setInterval(function() {
        addPoint();
        update();
        draw();
    }, 1000/24);
});