does each individual iphone have it's own ip address?

Hi yes each pc or iphone connected to network will be assigned an unique ip address .The ip address will be assigned for your iphone by your ISP .....
Here i list out the steps to be followed to find internal ip address of your iphone .They are
1.Turn your iPhone on by pressing and holding the power button on the top right-hand side of the phone. Wait for the phone to boot to the Springboard, the iPhone home screen.
2.Tap the "Settings" icon on the Springboard. The "Settings" icon looks like gears and appears as the last icon in the third row in the default settings for the iPhone.
3.Tap the "Wi-Fi" option in the "Settings" menu. Note that your iPhone must be connected to the Internet to have an IP address. If you are not connected to the Internet, tap one of the available networks listed under "Choose a Network," and connect to it.
4.Click the blue arrow icon adjacent to the name of the network your iPhone is connected to. Your IP address is shown as the first item in the list.

You can easily find the external ip address of your iphone just by visiting sites like Ip-Details.com from your iphone .They will display your present network ip address along with information like ip location ,country ,ISP address and so on ...