Don't get the wrong idea when you heard "snippets" for your iPhone, because this isn't the cut&paste feature you've been eagerly waiting for.But it's good enough to help you write faster in notes and email, although this app doesn't work to send SMS messages or to expand text in Safari or other apps.
TapIt4Me is a text expander for iPhone or iPod Touch (software v2.0 or above required), for example just type 'br' and let TapIt4Me expand it to 'Best regards' (pictured on the left).
To email, launch TapIt4Me, compose your text using your shortcuts for speed and accuracy then select Mail from the action menu. To reply to an email, click reply in Apple's Mail app then press the home button and launch TapIt4Me.
Sources are from AppBeacon, via Macworld.