Price: Free, Version: 1.3.0 -> 1.4.0 (iTunes)
SimpleTorch is simply a torch aka flashlight. It does exactly what you need a torch to do - provide a light source.
The colour of the light is configurable so you can choose from 16.8 million colours.
SimpleTorch can also make use of the iPhone 4's flash, if it is available.What's New
Added support for iPad and iPhone/iPod touches using older iOS versions