Here is a wonderful example of a modern adaptation of a mythological tale. It's called "Sita Sings the Blues and is Nina Paley's retelling of the Hindu epic The Ramayana. It is a musical, using jazz from the 1920's and blends a variety of animation styles to tell the story of the Ramayana from the perspective of the hero Rama's wife, Sita.
Check it out. It remains one of my very favorite examples of 'modern mythology.'