What worked for me was to make sure the input 'frame' size is equal to output video's size (in this case, (680, 480) ).
http://answers.opencv.org/question/27902/how-to-record-video-using-opencv-and-python/
Here is my working code (Mac OSX Sierra 10.12.6):
cap = cv2.VideoCapture(0)
cap.set(3,640)
cap.set(4,480)
fourcc = cv2.VideoWriter_fourcc(*'MP4V')
out = cv2.VideoWriter('output.mp4', fourcc, 20.0, (640,480))
while(True):
ret, frame = cap.read()
out.write(frame)
cv2.imshow('frame', frame)
c = cv2.waitKey(1)
if c & 0xFF == ord('q'):
break
cap.release()
out.release()
cv2.destroyAllWindows()
Note: I installed openh264 as suggested by @10SecTom but I'm not sure if that was relevant to the problem.
Just in case:
brew install openh264