Don't modern clipboard managers like Ditto already solve this issue because they have non-destructive clipboard history that's instantly viewable and searchable? They also open up the entire feature space because they can have multiple clipboard buffers. Also, it's a user option whether pasting from the history moves the pasted item back to the top or leaves it where it was

Personally, I have a hotkey set up just for pasting the second-to-last thing I cut or copied (Ctrl+Alt+V). This is handy for when I want to swap two things. Ctrl+Alt+(1 thru 0) will paste the last 1 thru 10 history entries.