For those as confused as me for landing on the normal youtube homepage.
It's currently not enabled for every video as explained in the TC article. It works for this one here
Click on the share -> Gif button and you should be able to do it. It works. Trust me.
This is pretty amazing. GIFs are by far the most portable "video" format at the moment. I'm glad to see Youtube isn't following in IMGUR and Giphy's footsteps of sharing flash based videos of GIFs.
@thomasmeagher The easiest answer is nearly everything was on a roadmap that nobody had time for until a smart upstart showed how powerful it could be.
GifYouTube here. Good Job by YT ^_^. Still a LOT to be done with the GIF sphere, and we're tackling a lot of interesting problems now. May be interesting to work with YouTube on this too.
Edit: Meant to be a response to @thomasmeagher