Coolabhay.com

Its a great and a must have plugin for all Wordpress Bloggers, it lets you show your video .flv or any youtube video in a special way, you can make playlist and play them in it. Add a watermark to video and there are seven skins to choose from.
Download this plugin from here

http://wordpress.org/extend/plugins/flash-video-player/

Check out this video player made by it

Get the Flash Player to see this player.

Some Screenshots related

Skins of the player

You can change the colours of these skins