There have been several efforts
to bring some semblance of a clipboard to the iPhone since Apple has stubbornly, steadfastly refused to do so. So far, they've been somewhat meaningless and unhelpful (though totally well intentioned) largely because they've only worked with apps specifically designed to take advantage of them, when in reality, probably 80 percent of the stuff you want to copy from (or paste to) is in the iPhone's built-in apps. Enter Clippy, which attaches to the standard keyboard and adds true copy / paste to the out-of-the-box apps plus a smattering of third-party ones. The catch? It only works on jailbroken
handsets -- this is about as far from making it to the App Store
as anything you can imagine. It's still under development and bugs are still being ironed out, but for those of you who've gone ahead and pwned your phones, check Cydia for the goods.