I have a project coming up that requires a picture within a picture. I am currently using Vegas Pro version 12. Is it possible to do that with this version? Bob

Track 1 (upper track) is the image to be modified and track 2 stays as it is.
Use Track Motion on track 1 to resize and position the picture in the desired location.

What Mike said. Find "Track Motion" in the track header area.

Also be aware that this fine tool is perfect for PIP and PIP moves, but not for Ken Burns-style moves, where you want to use a virtual camera across video or a high-rez still. There you want Event Pan/Crop. Details in Vegas help.

Keyframes are your friend! For either. A little opaque the first time you try to use them, but worth reading up on and practicing.

I have a project coming up that requires a picture within a picture. I am currently using Vegas Pro version 12. Is it possible to do that with this version? Bob

I'm gonna be one of those people that asks what the project is, and who is "requiring" PIP?

Thank you so much for the replies. This makes me feel so much better. Vince, I will be doing eight podcasts. The project requires a presenter to be standing off to the side with a neutral background behind her, as she speaks pictures and PowerPoint graphics will come up alongside of her. I was thinking of using a green screen, but I preferred to use picture in a picture. Bob