The thing is you don't want to create a
wordpress media player, you want to create
a media player. You need to understand that a media player can be created using JavaScript, or its library jQuery.
Somehow before digging deeper, I will tell you that wordpress already has an HTML5 jQuery media player. You can get it
here[
^]. You must always first atleast once Google for your problem, your problem is "jquery media player for wordpress" results are (
well Google page would tell you[
^]).
You can, if you want to develop your own media player, learn more on Media events of JavaScript. jQuery is just a library and would work with JavaScript functions and methods.