all these Information are copied directly from
http://www.wbitt.com/my-howtos/321-skype-on-fedora-14-64-bit-x8664-.html.
please refer to that web page for further help

Install the following packages: yum -y install pulseaudio-libs.i686 pulseaudio-libs-devel.i686 alsa-plugins-pulseaudio.i686 \ libv4l.i686 libXv.i686 libXv-devel.i686 libXScrnSaver.i686 libXScrnSaver-devel.i686 \ dbus-qt.i686 dbus-qt-devel.i686 qt.i686 qt-devel.i686

Then download and install skype: to download skype,browse to http://www.skype.com and download the 32bit version available for Fedora, then do: yum -y localinstall skype-2.1.0.81-fc10.i586.rpm –nogpgcheck

Then issue :

ldconfig

That's all. Enjoy!