How to get the item currently pointed at by iterator without incrementing?

Is there a way to get the item pointed at by an iterator in python without incrementing the iterator itself? For example how would I implement the following with iterators:

looking_for = iter(when_to_change_the_mode)
for l in listA:
    do_something(looking_for.current())
    if l == looking_for.current():
        next(looking_for)

looking_for = iter(when_to_change_the_mode)
current = next(looking_for)
for l in listA:
    do_something(current)
    if l == current:
        current = next(looking_for)

Question: What if at the end of the iterator? The next function allows for a default parameter.