Apparently not everyone is contented with recording videos using iPhone or iPod touch. If you want to edit your videos, the download free app Splice video editor may be suitable for you.
Splice is a freemium video editor designed for iPhone and iPod touch, developed by Path 36. Through its multi-track interface, you can drop-and-drag to assemble normal or HD video clips, photos, and music, and add text, audio mixing, creative expression, and various visual effects to your videos. And through in-app Splice Store, you can also purchase needed sound effects, music tracks and borders for your great works.
Splice Video Editor free iPhone app with a size of 17.5MB is compatible with iPhone, iPod touch (3rd and 4th generation), and iPad running iOS 4.2 or later. If you’re interested, jump to App Store for more details.