Givit is a video and editing app. Rather than sharing an entire video, Givit lets users easily edit their videos down to "highlights" of the footage by simply tapping the screen. After you choose the frames to feature, you can choose from a variety of effects. You can even put your own music to it, or choose from the themed music right in the app.

Be sure to check out Givit on Tumblr, Givit on Twitter, and Givit on Facebook. Don't forget to Download Givit from iTunes, it's free!

I've played around with it, and it's quick and easy to use. You can create a highlight video of the video on your phone, or you can shoot a new one.

Givit is also hosting a Thanks Givit Contest in honor of the holidays for a chance to win an iPad mini. It runs from November 12 to December 7, 2012 All you have to do is submit videos that show off what you’re most thankful for. Official rules here.

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The Giveaway

Prize: One (1) winner will receive One (1) $50 Visa gift card

1. (Required): Visit Givit, come back and tell us (leave a comment below) your favorite feature of the app.

2. For an extra entry: Tweet about this giveaway on Twitter (I'm @busymom).

Be sure to leave a separate comment telling me you've done so.

3. One (1) winner will be picked randomly via Random.org from the comments.

4. Contest is open to all U.S. and Canada residents 18 years or older

5. Winner has 48 hours to get back to me, otherwise another winner will be drawn.

6. Hurry! Ends December 3, 2012 at 10 pm CST.

Disclosure: I received a $50 Visa gift card as well.