The video, apparently circulating wildly on the Net, grew out of a BK promotion for iPod videos on Heavy.Com. It features a striptease, which ends with a close up of a Burger King mask. In a sense, this is open-source advertising. BK delivers a platform and some props (the masks), and the community creates the ads. They're virtually free, and powerfully popular--but the advertiser loses all control.
I think this is a risk more and more advertisers will be accepting as they look to lower costs and hike up the buzz around their brands.