Here's my latest example that I produce to help the students better understand the project. My topics are the Donald Trump presidential election victory, the passing of recreational marijuana usage in four states, and some nice improvements made to the SC State campus last week thanks to Home Depot and its "Retool Your School" competition that State won this year, receiving the very grand amount of $50,000!
There are couple easy ways to do PIP. This first way, as seen in this YouTube tutorial, involves reducing the size of the narrative track and then positioning it in a corner of the larger video that is being described.
A second way, the one I used for this "Quick Takes" video, utilized Premiere Pro's "PIP' tool, which can be found in the Effects tab under Presets. This video helped guide me through the process. The PIP box can also be designed using this tool. You can add width to the box, shadowing and other enhancements.
Here is a second version of the above video with the PIP window beveling and drop shadow.