Code
mobileterminal
This is the home of MobileTerminal.app, a terminal emulator application for the iPhone. MobileTerminal.app is NOT an SSH client, nor Telnet for that matter. It can however be used to execute a console ssh-client application.
See the http://code.google.com/p/mobileterminal/wiki/Roadmap for development plans.
For support and discussion visit http://groups.google.com/group/mobileterminal
The popular package management system Cydia currently contains a version of mobileterminal that is known to not work in newer versions of iOS. See the Downloads section for newer binaries and check out the Installation wiki for details on how to install if you need assistance. Please do not file bug reports about older binaries.