Valve's Source Filmmaker has moved from closed beta to open beta, essentially fully releasing the product to the community. The tool, originally announced in conjunction with the Meet the Pyro video, has essentially been turned into a Team Fortress 2 machinima editor, since each of the Meet the Team videos are fully editable. Considering how many hilarious videos have been released with the game in closed beta, it's tough not to be excited now that the floodgates have been opened.
Here are a few example videos provided on the Source Filmmaker website showing off edits of the Meet the Heavy video: Link. Or if you're interested in trying out the Filmmaker yourself they've even made up a tutorial video to help you get started. Valve's community is insane, and this is a new medium for their insanity to leak into reality.
Check out and download the Source Filmmaker yourself right now, or if you're like me, sit and wait for the hilarity to reach maximum capacity.