Transloc has created a number of real-time bus tracking maps for universities in the U.S.. The University of Florida Transit map is good example of how Transloc use Google Maps to show the position of buses in and around a university campus.
The map shows the real-time location of buses with color-coded markers. The color of the marker indicates the route of the bus and the arrows show the buses current direction. Users can click on the bus markers to view the bus' destination.
It is also possible to select a bus route from the map sidebar to view the route on the map and the current position of all buses currently on that route.