This Youtube Player displays selected Youtube Videos as a cover flow. You can move the covers either moving slider button along the slider (↔)or using the keys (← →).To play a video double click the cover on the top or click the description. This player can easily be added in your web page or iGoogle home page. It is developed as Google Gadget. Important tip: when adding Youtube Flow Player on a web page or iGoogle width:height ratio should be around 1.75:1.You can place it in full screen mode also see demo. Please leave comments.
I will also write about the internal workings of this.

To add it on your web page you can do one of the following
1) Go to Google Gadget's preview OR Add Gadget page.
2)

3) Use the following script on your webpage-
<script src="http://gmodules.com/ig/ifr?url=http://padmanijain.googlepages.com/yt202.xml&synd=open&w=320&h=200&title=Youtube+Flow&border=%23446666%7C3px%2C1px+solid+%23446666&output=js"></script><br />

You can also see other old version of Youtube Player.
You can also see my other experiments Movie Player & Stock Ticker. Also check Old News Player.