Recently, i found some spare time to take a tour on and check what's new on it. Last version of Google Earth i saw is Version 3, which is quite old and out dated. Any how, while i was zooming in towards my Home town (Negombo), i saw a few YouTube videos and Panoramio Photos Popping out of certain places.
When you tag the location of a YouTube Video or a Panoramio Photo you upload, now it appears on Google Earth as well. Its quite new to me, as i was not aware of this. To see this, you need to enable "Panoramio" Under Geographic Web Option and YouTube in the Layers Menu.
I have been using Panoramio (User Name : DJNJ) and YouTube for some time now, and most of the Photos and Videos i uploaded are now visible on Google Earth.