This NPC is actually split into three different NPCs. One for the chain links, one for the spike ball, and one for the actual whole object.
I wanted to make these really useful, so I added some extra options for them in the editor. You can configure each Ball 'N' Chain's speed, its length, its direction, the angle it starts at, and how many spike balls there are. I also implemented it being able to be friendly, to not move, and to move with its layer.
Here's some gifs of the NPC in action:
Download
If you want a demonstration level for them also, see my level thread over here:
My Levels
edit: Oh yeah, and please give me credit if you use it in one of your projects