Video editors are pretty commonplace today on Android, though few of them are exactly pretty. And even fewer are as straightforward to use as they should be. Enter WeVideo. WeVideo is actually a web-based video editing and cloud storage service, but they've expanded their reach with an app for Android, now on the Play Store in a limited beta.
You'll have to be using either a Galaxy S III, Note, Note II, Galaxy Nexus, or Nexus 4 in order to use it for the time being, though that's a prerequisite many of you likely meet.