Users are able to customize player features including the name of the player, color theme, layout (a standard layout or one with related videos to the right), and content.
The content feature allows users to include their own videos or other videos from a YouTube Favorites List or YouTube playlist.
Examples as below. We were unable to embed the player with the related videos to the right due to a width consideration (it’s 780px wide) but the shrunken screen shot shows what it looks like. Below that is a custom embed from Chris Pirillo, who I also have to thank for the tip.
The new feature can be accessed at youtube.com/custom_player.