It's not a distant cousin of the Nyan Cat, it's YouTube's friendly new face. Gone is the cluttered look and flashing buttons, instead their new (opt-out-of-able!) interface is clean and pared-down. This is one redesign Twitterites won't protest about.
You can try it out over on YouTube now, but do let us know via the comments below what you think of it. I for one won't be retreating back to the old design any time soon. [YouTube Cosmic Panda via TNW]