1. convert the YouTube video to mp3 (just Google "youtube to mp3" the profit!)
2. download Audacity from here: http://www.audacityteam.org/download/windows/
3. open your converted mp3 in Audacity and drag its timeline to 1min10sec, stop playing the mp3, then use "File" -> "Export Selected Audio..." to save the shortened version
:
- in case giphy not working for you...:
!!! you must need to go to here to get the LAME MP3 encoder for your Audacity first :http://manual.audacityteam.org/man/faq_installation_and_plug_ins.html#lame