We probe the time dependence of the dark energy equation of state (EOS) in light of three-year WMAP (WMAP3) and the combination with other tentative cosmological observations from galaxy clustering (SDSS) and Type Ia Supernova (SNIa). We mainly focus on cases where the EOS is oscillating or with local bumps. By performing a global analysis with the Markov Chain Monte Carlo (MCMC) method, we find the current observations, in particular the WMAP3 + SDSS data combination, allow large oscillations of the EOS which can leave oscillating features on the (residual) Hubble diagram, and such oscillations are potentially detectable by future observations like SNAP, or even by the CURRENTLY ONGOING SNIa observations. Local bumps of dark energy EOS can...