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
[flashvideo file=http://www.youtube.com/watch?v=EyGGod0Pco4 /]
Some Screenshots related
Skins of the player
You can change the colours of these skins