avplayer supports all kind of media formats.

This is Ads supported version, install avplayer from the market for no Ads.

Supports : AVI, MKV , FLV , RMVB , MP3 , OGG , FLAC , WEBM and many other formats.

Websites : Youtube , Dailymotion , Vimeo , BBC and many other websites.

vmplayer uses mplayer as engine.

Download code from following sites
(Java Part)
https://mplayer-andorid.googlecode.com/git/mplayer-java.tar.gz
(JNI)
https://github.com/ajeet17181/mplayer-android
Usage:

For first time hit rescan to update the library
Use back button to exit from fullscreen
Fling Up/Down to adjust brightness
To seek forward/backward swipe on the video screen