It's another application which helps us to have copy/paste function on the iPhone. The similar app called MagicPad, which has hit the App Store August last year, can only copy and paste text from within the app. But now, an app called Clippy, which has no problem with cross-app copy and pasting, but unfortunately it works only with the jailbroken iPhones!

"After installing the application, type any text you want and simply hit the "123″ button on your keyboard to show the copy/paste buttons. Tap "copy" and start selecting the text you want to copy. Tap "copy" again to end the selection. Then tap "paste" to paste this text where you want it to be." This implementation isn't up to Apple's standards for grace and ease, but it seems workable.

[via TUAW]