java iterators

List<String> myList = new ArrayList<String>();

myList.add("1");
myList.add("2");
myList.add("3");
myList.add("4");
myList.add("5");

Iterator<String> it = myList.iterator();

while(it.hasNext()){
    String value = it.next();
    System.out.println("List Value:"+value);
    if(value.equals("3")) myList.remove(value);
}