PSPTube — the homebrew app allowing YouTube video playback direct on the PSP.
                Other popular video sites are supported as well.

Translated (Japanese to English) changelog:

    * General
          Dailymotion corresponding login.
          file name can now download
          select the file name of the items can be changed now
          URL directly enter play now
    * Related Play
          video playback with the passage of time and full time,
          the information can be displayed as a buffer.
          Hide comments can be shown now
    * Bug fixes
          Premier members smiling movie, the search could not fix the problem.
          Video smiling, trying to play freeze glitch fixed

By:  Developer SofiyaCat

Download: PSPTube20080216

Source : http://nekomimi.cafe.coocan.jp/wiki/?%CA%AA%C3%D6

Cool :D Gonna Give This A Try Whenever I Create A Youtube Account :D