Transparent Pixels in ActiveX Control

I am looking for a means to target specific pixels in a Usercontrol to be transparent.

I am creating a control that uses the line method to draw a shape within the control, but portions of the control would be transparent so that overlapping controls during design time would show through each other at the specified pixels.

Does this make sense?

I can do this using pre-existing images (GIF format with transparent regions) within an image control, but I need to be able to draw custom shapes at run time, and I also need an hWnd and the Image control does not have this.

Any help on this would be MUCH appreciated!

Thank You,

Imp