I make high quality, edited videos consisting of celebrity videos. These videos take a lot of effort and time to make. I add commentary, sound effects, subtitles, visual effects to the videos in order to transform them from their original form.
All of my videos are created by me, using the programs iMovie and Preview. I overlay images and videos, add visual or audio commentary, add sound/visual effects and add subtitles (sometimes) for anyone that has difficulty understanding english.
I believe my videos fall under the "A funny or thoughtful revision of content you didn't originally create" guidelines of YouTube. This means it should be allowed by YouTube to be monetized, as this video transforms the original videos so that they are different than before.