The iMovie video effect "Peephole" makes it appear that you're looking at the video clip through a peephole.
iMovie Video Effects - Peephole
Effect In, Effect Out:To apply the effect to only part of the video clip, move the these sliders to the places time when you want the effect to begin and end. Leave them both set to 0:00 to apply the effect to the entire clip.
Radius 2: Use this slider to adjust the size of the peephole.
Color 1: Use this button to adjust the color of the video being seen through the peephole. Leave it on white if you want the color to appear normal.
Color 2: Use this button to adjust the color of the frame around the peephole.
By moving the yellow locator in the preview window you can adjust the location of the peephole within the frame.
