I don't think the original video had audio, or at least I didn't hear it. Fun to hear them talking about it in Thai, although they don't say anything particularly scientifically relevant -- more like "augh! help me!" (out of surprise) and then some mild cussing about it.

The caption/title I get from the original video says:
"น่ากลัว หนอนทะเล เป็นแบบนี้"

First word is "na-grua" which means "scary", or more directly/literally "worthy of fear". The second word is compound, "nohn-talay" which means "worm-ocean", or "marine worm" would be a less literal but better English translation. The last word is actually 3 words: "pben baap ni", which roughly means "is like this". So an overall translation of the YT video title would be "this is a scary marine worm".

...Oops, and just now I'm seeing the YT description, which has a lot more Thai and does specifically mention Nemertea -- so that is probably correct. It looks and behaves a lot like some of the sea cucumbers that I've seen, although most tend to have a bit more texture or protrusions on their skin. But there are definitely sea cucumbers that are as smooth as this thing. Compare with a similar sea cucumber video:

https://www.youtube.com/watch?v=lKWSLg5PDiU

Quite similar, but sounds like the Nemertea does this to eat whereas the Sea Cucumber does it as a defense mechanism.
--EDIT-- Whoops, embedded the wrong video. Should be fixed now

UPDATE below also see new video description and original video

The caption is in Thai and describes the creature as a Nemertea, or a ribbon worm, which shoots a proboscis (elongated nose) out of a hole above its mouth to capture prey.

Presumably, that is what is going on here.

When not stretched out like an alien life form, the proboscis normally sits in “a fluid-filled chamber above the gut,” according to Encyclopedia Britannica.

And here’s a description of how it works from NCSU:

"When the animal senses a prey organism nearby, a circular muscle layer around the proboscis sheath rapidly and vigorously contracts. This contraction forces the fluid from the proboscis sheath into the proboscis and, in the process, literally turns it inside out, blowing it out of the proboscis sheath. The proboscis will rapidly (within a second or so) wrap itself around the prey, which is then drawn to the mouth and eaten."

from http://thedailywh.at/2015/05/nope-day-internet-disgusted-mystified-ribbon-worm/

oh well... it actually takes quite a bit. let's start backwards:

posting links to the video on social networks, twitter, promotion and stuff like that: 20 min

adding captions, notes, etc to the video: 10 minutes

uploading the video and filling in the information: 10 minutes

rendering the video: 2 hours

(this week I made an editing mistake and had to change and re-render the video which took and additional 2 hours)

actually editing the video: about 5 hours (which could be less, if the editing preview wasn't so unresponsive and slow now. it makes the work really frustrating and inefficient)

making the animated talking logo in after effects: 15 minutes

recording the voice-over: 1 hour (I make a few mistakes, and then I also need add a few filters to make it sound better, 'cause my mic is kinda crappy)

collecting all the videos I need for backdrops: 2/3 hours

actually writing the script while reading the news I had previously chosen: 2 hours

getting all the release dates down: 1 hour

picking and choosing the news I'll be talking about: 1 hour spread throughout several days.

So on total: around 15 hours. Obviously not all on the same day. Most of it on fridays.

Just reading the caption is enough to dismiss this in toto. Trayvon Martin was killed because he was beating the hell out of a guy who was protecting his neighborhood, beating him ground and pound style. Almost nothing reported in the news was true, much like that savage in Ferguson.

Original trailer from the studio with English captions are here and differ only slightly from the Youtube captions.

Link to the full episodes are here.

Sorry to say, but I have to wait too to see what this video really is. It is "homophobic" in it's own way, just by using the entire notion of "dressed like a homosexual". This reeks of someone trying to do the same thing as the women, as mentioned in posts above. But, was it a real attempt to show something or was it a parody. To me, it seemed to be a mixture of the two.

But, when they use the caption that they did at the start and the statistics at the end, they tried to make it real...so I'm really in the mood to just downvote this outright.

I take strong objection to the caption "dressed as a homosexual".

I've never wished captions were available as much as I do watching this.
Anyone got a translation?
EDIT: Please let this be the video that earns me gold!

*quality fail
Turn on captions

Click on cc(captions) at the bottom of the video to get subtitles.

Sure, that would be great The automatic captions were as useless as usual (has anyone ever seen them work well?) and I was too lazy to work it out myself.

On second thought, those youtube caption translations don't make any sense.

Thank god for close captionning!

The pretense of the captioning is petty, foolish and lays bare the crass motivations of the idiot who wrote it. Everyone knows the only ones who are killing Bald Eagles these days are Barack Obama and his environmentally hostile interior department. http://www.kcet.org/news/rewire/wind/biologist-eagle-deaths-at-turbines-widespread-undercounted.html

I was about to comment asking for captions, but by the end, none were needed.