Before the Old Spice guy, there was the Hunter and the Bear who made use of YouTube annotations to create a brand campaign for Tipp-ex, the stationery product which helps you "white-out" errors so that you can write over them.
So far the Tipp-ex videos have got 8 million views (probably a lot more but there are no statistics on the variable endings), but just checkout the creativity of Youtube Streetfighter from Patrick Boivin from creative agency Woolf+Lapin.
Today Matt McGowan stumbled upon this YouTube ad campaign for Tipp-Ex. If you haven't already seen it YouTube has recently added two targeting features which enable advertisers to have more control on what videos their ads are placed on.