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The mod allows users to include/embed a YouTube video in their profile.
Once you have setup and included this addon in the admin profile fields section, then in the field provided in the user's profile manager they can simply include either the "SHARE" code or the "URL Link" for the video and the mod will take care of creating the required embed code.
When you create the profile field for YouTube you should include Help Text for Users: that says something like …. Include either your YouTube "SHARE" code or the "URL Link" here.
For installation and setup instructions refer to: Custom Profile Fields