Internet Tethering is a process which allows you to use your iPhone as a wireless modem to share its Internet connection with a computer via USB cable or Bluetooth interface. The iOS for iPhone has this functionality (wired-only) built into the operating system but it is only enabled on selected carriers. Fortunately, there is an app called “MyWi” for jailbroken iPhones which can enable wireless tethering on any carrier you like with just a touch of a finger!
Do you want to tether your Wi-Fi iPad with your iPhone? look no further than MyWi app for jailbroken iPhones which is so much more easier to use than you think it is. With MyWi, you can create a WiFi HotSpot with a press of a finger! Wherever you are (just like iPad 3G) - you can connect your iPad to your iPhone easily.