The Dailymotion iPhone app grants you the ability to watch videos from the French video sharing site Dailymotion on your iPhone over 3G or Wi-Fi. It also lets iPhone 3GS owners upload recorded videos.
Dailymotion is a small competitor to YouTube; it's actually one of the older video sharing sites, but it has been overshadowed by newer competitors in addition to YouTube and Vimeo. Nevertheless, it has unique appeal. At least until recently, it had more professionally produced content in addition to user-generated stuff. Because it's based in Europe, it's also been a bit slower to shoot down videos that infringe on copyrights.
The Dailymotion iPhone app comes in two editions: an ad-supported free version, and an ad-free pay version which costs $5.99.