The contest is simple. If you’ve a YouTube account (or create one), just make a 15 second video and upload to your YouTube channel. The video must not exceed 15 seconds in length (details here)
The Contest begins at 12:00:01 a.m. ET on December 8, 2010 and will end at 11:59:59 p.m. ET on January 17, 2011. Winners will be announced on February 2, 2011.
If you’ve interested, more details and official contest rules are available here. (Via)