A new WebOS homebrew app is now available for the Palm Pre smartphone called “My Tether,” and apparently turns the Palm Pre into a 3G WiFi router which works similar to Novatel’s MiFi 3G WiFi.

Unfortunately though My Tether isn’t available via the Palm Pre App Catalog, so a user will need to hack their Palm Pre for root access and once the handset is jailbroken you can download and install the My Tether application.

We have a video demonstration of the My Tether application in action for your viewing pleasure below, courtesy of palmpre-hacks.com so enjoy.