ttygif converts a ttyrec file into gif files. It's a stripped down version of ttyplay which calls import on every frame.

$ sudo apt-get install imagemagick ttyrec
$ git clone https://github.com/icholy/ttygif.git
$ cd ttygif
$ make

1. Create ttyrec recording

$ ttyrec myrecording

• Hit CTRL-D or type exit when done recording.

2. Create gif frames

$ ./ttygif myrecording

• Dumps a bunch of gif images into the current directory.
• File names have this pattern: <zero_padded_index>_<delay_in_milliseconds>.gif

3. Create animated gif

$ ./concat.sh terminal.gif 

• Concatenates all the images in the current directory

The idea and approach was adapted from tty2gif