here's a working code:
[quote]<div style="position: absolute; width: 16px; height: 16px; z-index: 8; left: 55px; top: 24px" id="layer8">
[b]<object width="234" height="194"><param name="movie" value="http://www.youtube.com/v/-mfGHus0ae8&hl=en"></param><embed src="http://www.youtube.com/v/-mfGHus0ae8&hl=en" type="application/x-shockwave-flash" width="234" height="194"></embed></object>[/b]
</div>[/quote]
[url=http://h1.ripway.com/16thcollection/5th.html]Live Preview[/url]
notice the bold part? that's your youtube code.. just adjust the margin to fit in your overlay..