I'll try to be very clear about this.
Peer 2 Peer connections are established by one client making a call (invoking easyrtc.call) and the other client accepting the call. You could have 50 people in the same room and client X in that room would not be receiving client Y's video if client X hadn't called client Y and person Y hadn't called client X. No call, no video sharing. It's that simple.
By default, if you call somebody, or accept a call, you will implicit share a local media stream named "default". However, easyrtc.call takes an optional 5th argument, which is an array of the names of local media streams. If this argument is an array of length 0, you won't send any media streams. If the client has defined media streams named "xx", "yy', "zz" and uses ["xx","yy", "zz"] as the fifth argument, then the call will share those media streams.
On the other side of the call your accept checker function gets passed an acceptor function when your client receives a call. The second argument to the acceptor function is an array of names of local media streams with the same behaviour.
There is also a facility to add media streams to an existing call.
In short, clients have complete control over what media streams these choose to share.
The demo_multistream_iframe.html demo demonstrates how to use this functionality.
This only works in Chrome currently.
Before asking any more questions, give it a try and examine the source code.