Now don't get overexcited, this isn't actually a real iPhone.
iPhoney is an iPhone web simulator intended for developers and designers of websites and iPhone apps, to preview how their web creations will look in the mobile device.
It's essentially a browser fitted with an iPhone interface of the original size of Apple's creation.
You can enter any url and have iPhoney either zoom to fit the page inside the window or show it in normal size.
Pages can be refreshed and you can both forward and backward. iPhoney also includes the rest of the iPhone controls however these will not actually work.
Another cool feature is being able to rotate iPhoney so you can check how your web creation looks in both vertical and horizontal view. Developers will also be interested to see that you can choose from both the Web Kit and iPhone user agents and also have your own custom user.
iPhoney also lets you use plugins.
If you're developing web apps for Apple's mobile device, iPhoney can be a useful app to have to see what it will look like in the iPhone.