Where can i buy an inexpensive portable speaker that can?

Both play a song from my iphone, and allow me to plug in my guitar to play over a track? (portable speaker with 1/4 inch output plug and auxillary plug) i'm having some trouble finding those exact specifications. Any suggestions?

You can buy adapters that will convert the guitar plug to any other size plug.

http://www.radioshack.com/product/index.jsp?productId=2102666
Stereo Inline Adapter, 1/4" Jack to 1/8" Stereo Plug
Model: 274-875 | Catalog #: 274-875
Price: $8.49
This adapter will convert your guitar 1/4" Plug to a 1/8" Plug that will fit the speaker input

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The problem is the iPhone does not have enough power to drive anything bigger than a small speaker, and you will need an amplfied portable speaker.

for example, Radio Shack has this:

http://www.radioshack.com/product/index.jsp?productId=2062620
RadioShack® Mini Audio Amplifier
Model: 277-1008 | Catalog #: 277-1008
Price: $14.99
It's a very low power speaker

http://www.radioshack.com/product/index.jsp?productId=13040713
Hype Portable Mini Amp Speaker
Model: HY-519-SK-BLK | Catalog #: 63-570
Price: $12.97
It too is a very low power speaker

But - these speakers might not be compatible with the output of your guitar
You will have to test first

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