Description from the FileForum listing:

MooPlayer was designed to replace Windows Media Player 6 (mplayer2). It uses a similar style where the player is only the actual video, menu and window frame. It is DirectShow based which means it supports all formats that Windows Media Player does (MPEG, DivX, XviD, etc.). The interface is meant to be as minimal as possible. All controls are overlayed on the video so you can easily access them even in full screen mode. This also means they don't clutter up the view as much. It is released under the GPL and source is available for all releases.

Screenshot:

Homepage

Download 

Source Code