$content = the_content();


// inside $content will be something like    ##s009dsf0a## which represents my youtube code. I have a function that accepts the youtube code and outputs the entire object block player. I need to replace the hash to hash with my function.

function ($youtubecode) {
blah
}

// what would the code look like to replace the ## and what is in between and inject my youtube video function in place of it. So ultimately I would have

// this is some content this is some content blah blah  <object.........>youtube player</object> this is more content blah blah.