Touch Closet is a free app that lets you add clothing items from your wardrobe, organizing and creating a kind of inventory (so you can tell from a glance if you need to stop buying gray cardigans).
From there, you can put together outfits and record when you wore them, so you can check back and see what you're wearing often and avoid repeats, if that's a concern of yours.
I'm gonna have to tell Fab to get an iPhone . . .