Launching today, Pantone's new application for the iPhone and iTouch—aptly titled myPantone—allows users easy access to the Pantone color libraries, serving as an on-the-go color reference guide.

The application not only makes discovering new hues a snap, it also affords the user the ability to create and share color palettes in addition to saving and storing them for later comparison. Similar to the Sherwin Williams ColorSnap application, myPantone's Color Library comes in handy for designers or anyone seeking to make an exact color match.

It's available from iTunes for $10. To find out more about the myPantone community and to become a member, visit their myPantone site.