Overlapping Unity Players w/ Transparency

Bear with me, I am new to Unity. I’m wondering if it’s possible to have two different instances of the Unity player each running their own animation and have them overlap with the top one having a transparent background.

I worked up a rough mock image of what I’m talking about. Here foo.unity3d is one animation playing and bar.unity3d is a snow animation playing on top where the non-flake areas are transparent. It appears as if the snow is falling on the foo.unity3d animation but because they’re separate instances of the player, I can drag the snow window around.

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I don’t think that’s possible. But you can probably work it around in one scene and two camera, controlling the snow camera position (the position of the component camera, not the transform) with your mouse.