Comex, the creator of the Spirit jailbreak, has released more details on his port for Flash 10.1 to iPhones and iPads (and possibly iPod touches).
The name for this Flash port has been called 'Frash'.
The description for the newest YouTube video reads:
Frash is a port of the Adobe Flash runtime for Android to the iPhone, using a compatibility layer. Frash can currently run most Flash programs natively in the MobileSafari browser. Frash currently only runs on the iPad, but support for other devices (3GS+ only due to technical restrictions) is planned, as well as support for iOS 4.The port is completely open sourced and is avaiable for developers to download now and test on their own and suggest improvements for it: http://github.com/comex/frash