New: YouTube has rolled out a new online video editor for all users of the service. This new online service allows you to trim and paste together uploaded videos from the YouTube website and generate new online videos. They also offer free audio tracks if you need a soundtrack for your new video.

To use the tool is pretty straightforward. Select a video from your online YouTube library, trim it, then drag it into video timeline. For any audio, you can drag and drop the free tracks YouTube offers from their AudioSwap library, and trim and length these clips as well. Very easy tool to generate mashup videos in no time.