It may be a TouchWiz thing, but I've seen it on Samsung phones I've owned. That is until Apple decided to throw patent lawsuits around. A firmware-update later and gone it was.

These days most Android-phones have a "overflow" effect when reaching the end of a list. Specifically designed to avoid lawsuits.

My LG Optimus V running Android 2.1 has bouncy scrolling in the browser but not in most standard apps.