iHacks

To download youtube videos on your iPhone or iPod Touch first of all you should have jailbroken device with cydia.
Open cydia,go to Search and type in MxTube. Install MxTube after installing the app you can see MxTube on your Springboard
Open MxTube, go to Search and search what ever video you want to download. You can even steam videos before downloading
You can manage your videos and downloads! Enjoy... :)

Screenshots

Well if people there trying to jailbreak their iPhone or iPod Touch then this is a right place for you. If you don't know what Jailbreak is then Google is your best friend.

1. Okay, First you should have an iPhone or iPod Touch
2. Go to www.blackra1n.com , Download blackra1n on your computer. You get two options there Windows and MAC. Click on Windows if you are a Windows user or Click on MAC if you are a MAC user
3. Connect your device to your computer
4. Open blackra1n, click on 'make it ra1n' and your device will be jailbroken an few secs.