I have implemented one application in which i want to implement pedometer functionality.Is it possible to implement pedometer?Please give me idea.
This is certainly possible, and I believe has been done. The main drawback is that since the iPhone does not permit 3rd party background tasks, your app will have to be open to collect pedometer data.
The simplest way to do this would be to setup an Accelerometer listener, and watch for 'step events'. You'd have to do some experimentation to determine the type and size-range of these, but that wouldn't be too difficult.
Expanding on Ben's answer: you might want to write an app (or use an existing one) that continuously records the data from the accelerometer and shows a graph thereof, then have that app running while you and a few different people walk around with the device in their pocket. That should give you an idea of the patterns of acceleration you need to be looking for, as well as the variation possible in peoples' stride lengths, gaits, etc.