Yet another SSH client for the iPhone available at the App Store simply called SSH from ThroughPut Inc. If you are looking for a telnet emulator you can try this app. Choose port and host to connect to, but not much more as far as functionality goes.
Here is the list of iPhone SSH / Terminal Apps sold in the App Store:
This 3rd Party App is available at the Apple iTunes AppStore. Browse the full list of all AppStore apps filed under the AppStore category.
Grab this