After much research and asking questions, we were finally able to come up with a good method for insulating our outdoor, above ground water pipe and spigot. To keep you from going through the same headaches, we chose to share our insulating process with all of you.
We sincerely hope this helps anyone trying to insulate their outdoor, above ground water pipe, especially fellow RV'ers using a water hose to connect to a water line in the winter.

Sorry about some of the audio, it started raining while we were trying to shoot the video.

Music Credit goes to:
bensound.com Song Title - Memories