Since iPhone currently doesn’t have a way to copy and paste, Quasi Clipboard is here to help. It is a javascript bookmark file that you can download and synch with your iPhone.

The way it works is, you type any text you want to copy, and then it shows up on a different page. Granted, it’s not full copy and paste, but it is easier than switching up and back between pages. It uses two butons: “set” and “get”.

Get it here