Update: Macrumors lets us know that, strangely enough, it’s back in the App Store. It doesn’t show up in a search, but you can download it via this iTunes/App Store link.

Update 2: …aaaand it’s gone again, at least in the US. Le Sigh.

The Interweb is abuzz about this little program that popped up on the App Store yesterday, so aptly named NetShare. The concept of the app is to essentially use your iPhone’s 3G or EDGE (god knows why) connection for your laptop. It creates a proxy and establishes a pseudo-hotspot with your iPhone’s connection leaving you free to surf the web on your laptop. It’s tethering, more or less.

How this got passed Apple and AT&T who knows. But it looks like  has already been kicked out of the App Store. Did any of the TiPb faithful get their hands on this app while it was hot? Anyone get it to work? From what TiPb has been hearing, it’s really hit or miss. Let us know.

Maybe Apple wanted the developers of NetShare to get the app right before they put it out again…wish for it and it’ll come true…wish for it and it’ll come true.

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NetShare Uses Your iPhone’s 3G/EDGE For Your Computer (Update 2: Yeah, gone again)