How to make UIView blinking (or flashing) on iphone?

Use this :

- (void)blinkAnimation:(NSString *)animationId finished:(BOOL)finished target:(UIView *)target
{
    if (shouldContinueBlinking) {
        [UIView beginAnimations:animationId context:target];
        [UIView setAnimationDuration:0.5f];
        [UIView setAnimationDelegate:self];
        [UIView setAnimationDidStopSelector:@selector(blinkAnimation:finished:target:)];
        if ([target alpha] == 1.0f)
            [target setAlpha:0.0f];
        else
            [target setAlpha:1.0f];
        [UIView commitAnimations];
    }
}

And to start the animation:

shouldContinueBlinking = YES;
[self blinkAnimation:@"blinkAnimation" finished:YES target:cursorView];

Also, ensure your class has a shouldContinueBlinking instance variable