This is a video from the "hacking on lguest" tutorial at linux.conf.au 2008 in Melbourne.
Lguest is a new and very light virtualization technology created by Rusty Russels.
It is very fast and basically allows to run "linux on linux". The video shows the lguest-host Qemu-image which was provided by the lguest-tutorial at linux.conf.au 2008. After the lguest-host is booted up a lguest virtual-machine is started by a simple user-space launcher. It also shows the simple hypercall printing out "Hey Ho Lguest" which was implemented during the tutorial.
Cool stuff by Rusty !