I realized a little bit too late that this has been posted already.
An ARMv6 port of Adobe Flash version 10.1.106.15 is out! Granted, it's not an official build, but it works perfectly fine.
This has been reported not to work on Android 2.2/Froyo on other devices, but apparently DOES run on our phone. Mileage may vary. I tested it with Gingerbread (Zefie's build) and it worked with great performance.
***HOW TO INSTALL***
Step 1. Download the zip at Multiupload.com - upload your files to multiple file hosting sites! Step 2. Extract the .apk file to your microSD card Step 3. Make sure you are enabled to install apps from "Unknown sources" Step 4. Navigate to the .apk on your phone, and run it through the install Step 5. Reboot the phone Step 6. .......... Step 7. PROFIT!
I've tested this with the Optimus S on Zefie's 2.3 build, and it works with no strings attached. I played several games on miniclip.com, ran TinyShark (the flash-reliant free version of Grooveshark for Android), etc. It never glitched in anyway. So, without further ado, enjoy!
NOTE: I take no credit for the development of this port in anyway - I came across the port on XDA for the Optimus One and made sure it worked on our phone.
I did the steps couldn't find flash in my applications. Then I downloaded a zip viewer found it abd was able to install. Now its in my application manager but nothing is viewable or playable on my browser. Do I need to root or something? Oh and I have the 2.3 gingerbread update