On the Module menu, click Edit Media Options (Figure 1):

Figure 1 - Edit media

On the Media Settings page (Figure2) set the following settings as needed:

Media Alignment - Alignment of media item within the module (left, center, right, etc.).

Media - Link Type - The media file to display or play. (Link Type instructions)
      URL - Display a media file on another website.
      File - Display a media file uploaded to your site.

Alternate Text - Text that will be displayed by browsers that do not display images.

Width - Enter the width (in pixels) only if you need to change the media display size (requierd for videos).

Height - Enter the height (in pixels) only if you need to change the media display size (required for videos).

Image - Link Type -  For images optionally specify a page to link to.  (Link Type instructions)
      URL - Link to a page on another web site.
      Page - Link to a page on your site.
      File - Link to a file on your site.

Image Link Options - Additional settings for the link.
      Track Number Of Times This Link Is Clicked? - Turns on Site Log auditing for the link.
      Open Link In New Browser Window? - Opens a new browser window to display link content.

Video/Flash Options - 
      Auto-Start Videos - Automatically start video play upon page download.
      Loop Videos - Continuosly replay the video.

Once all values have been set click on the Update link located at the bottom of the page.

Figure 2 - Media Settings