This is just some cool news for the internet. Google has added a very basic video editing system to YouTube, allowing users to share their creations and make them even better.
Though it's not a full featured application, the YouTube Editor is entirely useful for combining videos. You can also crop bits and pieces of your videos and add background music from a library of genres hosted on YouTube's servers. The editor allows you to combine several videos and add one background music track. 
After you've tagged and saved your video, the original videos are still intact. Because this is a cloud editor, it's got very limited functionality, though it works well for novices who don't want to bother purchasing video editing software. Try it out for yourself!
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