Poof is a simple App available through Cydia which allows you to hide and unhide your applications. It allows you to hide all AppStore, Cydia as well as system integrated apps on the iPhone.
To hide the app simply log on to the app and click no on the app you want to hide. It is also available on iPhone version 1.x through Installer. Once you are done close the application. The application will respring for few seconds and then come up to the normal springboard with the unhidden apps.
Cydia is an Installer alternative, that Installs on Jailbroken iPhone 2.x… Info here