Yes, actually what you are describing is the simplest form, the flip uses only two images. And for many years that was pretty much all there was. Today's lenticular images usual have between 12 and 24 different images. (Thanks to digital technology.)These images are combined in a special software program and the resulting image is printed on a specially designed material that has strips of lens extruded into it.

The lenses limit your view to only one or two views at a time. If the lenses are oriented so they run horizontally across the card you see an animation when you pivot it on its horizontal axis. However,
if you orient the lenses vertically each of your eyes sees a different image.  If the images are a series of stereo views of a scene you see a print in true 3D.

They are often used as backlit displays at tradeshows, I'm sure there were some at SIGGRAPH it's a big show for the industry. They are also used as POP signage, playing cards, direct mail pieces, luggage tags, and much more. There was a service at one time for Nimslo (a four lens stereo camera) that made 3d prints.

So I guess it's sort a like a viewmaster without the viewer.

ZaxysDMI