Scripting Reference
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AnimationClip.SetCurve

function SetCurve (relativePath : String, type : Type, propertyName : String, curve : AnimationCurve) : void

Parameters

NameDescription
relativePath The path to the game object this curve applies to. relativePath is formatted similar to a pathname, e.g. "root/spine/leftArm". If relativePath is empty it refers to the game object the animation clip is attached to.
type The class type of the component that is animated
propertyName The name or path to the property being animated
curve The animation curve

Description

Assigns the curve to animate a specific property.

If curve is null the curve will be removed. If a curve already exists for that property, it will be replaced.

Common names are: "localPosition.x", "localPosition.y", "localPosition.z", "localRotation.x", "localRotation.y", "localRotation.z", "localRotation.w" "localScale.x", "localScale.y", "localScale.z".

For performance reasons Transform position, rotation and scale can only be animated as one property.

JavaScript 
// Animates the x coordinate of a transform position

function Start () {
    // Create the curve
    var curve : AnimationCurve = AnimationCurve.Linear(0, 1, 2, 3);

    // Create the clip with the curve
    var clip : AnimationClip = new AnimationClip();
    clip.SetCurve("", Transform, "localPosition.x", curve);
    
    // Add and play the clip
    animation.AddClip(clip, "test");
    animation.Play("test");
}
@script RequireComponent(Animation)
using UnityEngine;
using System.Collections;

[RequireComponent(typeof(Animation))]
public class example : MonoBehaviour {
    void Start() {
        AnimationCurve curve = AnimationCurve.Linear(0, 1, 2, 3);
        AnimationClip clip = new AnimationClip();
        clip.SetCurve("", typeof(Transform), "localPosition.x", curve);
        animation.AddClip(clip, "test");
        animation.Play("test");
    }
}
import UnityEngine
import System.Collections

[RequireComponent(Animation)]
class example(MonoBehaviour):

    def Start():
        curve as AnimationCurve = AnimationCurve.Linear(0, 1, 2, 3)
        clip as AnimationClip = AnimationClip()
        clip.SetCurve('', Transform, 'localPosition.x', curve)
        animation.AddClip(clip, 'test')
        animation.Play('test')

Material properties can be animated using the property name exported in the shader. Common property names are: "_MainTex", "_BumpMap", "_Color", "_SpecColor", "_Emission". How to animate different material property types:

See Also: ClearCurves function, AnimationCurve class.
JavaScript 
// Animate color's alpha and main texture's horizontal offset.

function Start () {
    var clip = new AnimationClip ();
    clip.SetCurve ("", Material, "_Color.a",
        AnimationCurve (Keyframe(0, 0, 0, 0), Keyframe(1, 1, 0, 0)));
    clip.SetCurve ("", Material, "_MainTex.offset.x",
        AnimationCurve.Linear(0, 1, 2, 3));
    animation.AddClip (clip, clip.name);
    animation.Play(clip.name);
}
@script RequireComponent(Animation)    
using UnityEngine;
using System.Collections;

[RequireComponent(typeof(Animation))]
public class example : MonoBehaviour {
    void Start() {
        AnimationClip clip = new AnimationClip();
        clip.SetCurve("", typeof(Material), "_Color.a", new AnimationCurve(new Keyframe(0, 0, 0, 0), new Keyframe(1, 1, 0, 0)));
        clip.SetCurve("", typeof(Material), "_MainTex.offset.x", AnimationCurve.Linear(0, 1, 2, 3));
        animation.AddClip(clip, clip.name);
        animation.Play(clip.name);
    }
}
import UnityEngine
import System.Collections

[RequireComponent(Animation)]
class example(MonoBehaviour):

    def Start():
        clip as AnimationClip = AnimationClip()
        clip.SetCurve(, Material, '_Color.a', AnimationCurve(Keyframe(0, 0, 0, 0), Keyframe(1, 1, 0, 0)))
        clip.SetCurve(, Material, '_MainTex.offset.x', AnimationCurve.Linear(0, 1, 2, 3))
        animation.AddClip(clip, clip.name)
        animation.Play(clip.name)