YouTube launched a cloud-based simple video editor today, giving users basic functionality for editing their already uploaded videos.

The online editor isn’t going to compete against desktop video editing programs like Final Cut Pro or anything, but allows you to trim, snip, splice together and audio swap videos you have already uploaded.

The online editor lets you make last minute adjustments directly on the website, without having to reupload the final edit again.  The drag-n-drop service lets you select any of your uploaded videos and merge them together to make one final video.  The editor also includes the entire YouTube audioswap library, but gives you a chance to preview the clip before adding it to the video, however, you can still only select one song per video.

Once you select ‘Publish’ your video will automatically be processed by YouTube, so no need to sit and watch the upload progress bar.  Your video descriptions are also tagged with “I created this video at http://www.youtube.com/editor“, which links to a users profile.

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