Modify any of the available settings you wish (the defaults are usually fine), then click the 'Copy' button. This is the code you will need this to paste into the 'Label text' field in the next step.
Paste the embed code into your Label
YouTube embed code cannot be placed directly into the Label text field. It must be added in the HTML Source view.
Click on the 'Toolbar toggle' icon, which will open all the formatting tools for the Label text editor:
If you're embedding the video in amongst other content in your Label, place a new line in your Label text and type "Add video here". This will make it easier to paste the embed code in the right place in your code. Then, click the 'View HTML Source' button:
In the HTML Source editor window, highlight the "Add video here" text added in the last step (including the <p> tags at the beginning and end of this line) and press Control+V (on PC) or Command+V (on Mac) to paste your YouTube embed code in its place:
Click the 'Update' button. You should now see the video embedded in the Label text field.
Click 'Save and return to unit' to save your changes.