Video 2: Realistic Santa
Explanation
This video is a reference to the viral YouTube video "Unbelievably Realistic Microsoft Paint Art : Santa Claus Speed Painting Time Lapse" by the channel "Eclectic Asylum Art". It takes its title, description, view count, channel and channel subscriber count from the real video. The music is also the same.
The YouTube interface in the screenshot is styled after the 2010 YouTube interface. (It's worth noting that the original video was released in December of 2013, by which point YouTube had already switched to a new design.) The media player in the corner is styled after Windows Vista/Windows 7's titlebar.
The "speedpaint" video is a reversed clip of someone coloring over a finished drawing of Santa Claus with a white pencil. It uses the Windows 10 version of MS Paint.
Transcript
A video plays on a page using elements from an old YouTube design: a portion of the video title ("...believably Realistic Microsoft Paint Art : Santa Claus...") can be seen, as well as the channel name, subscriber count, a description ("Time lapse speed painting of Santa Claus using Microsoft Paint. Nearly 50 hours") and a view counter (24,821,235 views). There's a music player window to the right.
The video is a clip of a "speedpaint" of Santa Claus in MS Paint, with the drawing magically being "scrubbed in" rather than drawn piece-by-piece.