Glipper is a good clipboard manager for Gnome. It has some of the advantages of KDE's popular Klipper but runs natively on Gnome desktop. Glipper keeps your selections history for you and lets you choose from a list of recent selections.
By default there is no clipboard manager in Gutsy Gibbon Ubuntu 7.10. It just uses xclipboard instead which unfortunately looses your selection when you close the application it was in and does not provide a convenient list of your recent selections to choose from. Glipper solves those problems nicely.
Download Glipper
Install Glipper with ["Synaptic"] package manager or with
sudo apt-get update; sudo apt-get install glipper
Use Glipper
To start Glipper choose Applications > Accessories > Glipper
The Glipper clipboard icon will then appear in the Panel. Click on that to select what you want to be the current paste item. Or right click the icon and choose Preferences to set preferences such as how many items to keep on the clipboard.