Simple led display

Hi, I am brand new to Arduino and need help knowing which components I need. My goal is simple: display an image using an LED grid. I am a professional software engineer, so the coding aspect shouldn't be a problem. The image I want to display is similar to the crosswalk displays found in the USA (a red hand and a white walking person). Can you please specify which components I need? Which Arduino board, which cables, which LED displays would be adequate?

Here is an image similar to what I want to accomplish (ignore the ewok :))

Thanks, I appreciate this immensely!

Will this sort of thing work?

Thanks for that awesome link! Although that particular model might not be right (this doesn't look like it can do colors), this offers a great starting point for me to do more research (LCD shields).

I was thinking a 4x4 grid of bi- or tri-color 8x8 LED matrix would work well.
3rd item here as as example.

or you can always buy like 50 "ultra bright" leds for 5$, and make your own costumizable display on a 1$ ebay protoboard...
I can post the video of it if you want...

Hi, What quantity of these do you want?? Affects answers!