How can I modify or eliminate the mouse pointer while recording the iOS Simulator with QuickTime Player? I would like to use QuickTime Player to create a screen recording of the iOS Simulator running an app. I need to simulate taps on the simulator with the mouse, but I don't want the standard arrow mouse pointer in the recording. An alternate appearance of the mouse pointer (such as a circle to represent the tip of a finger) would be preferable to hiding the mouse pointer entirely (I still need to see where it is so I can use the app correctly).

What options do I have for modifying or eliminating the mouse pointer on OS X? My machine is running Lion 10.7.5.
I am using ScreenFlow for my video. It allows me to change the mouse cursor into a white or black circle, with a varying level of opacity. It's exactly what I need.