You can choose which frame of a composition
to show as a thumbnail image in the Project panel. By default, a
composition’s thumbnail image is the first frame of the composition,
with transparent portions shown as black.
To set the thumbnail image for a composition,
move the current-time indicator to the desired frame in the composition’s
Timeline panel, and choose Composition > Set Poster
Time.
To add a transparency grid to the thumbnail view, choose
Thumbnail Transparency Grid from the Project panel menu.
To hide the thumbnail images in the Project panel, choose
Edit > Preferences > Display (Windows) or
After Effects > Preferences > Display (Mac OS)
and select Disable Thumbnails In Project Panel.