Here you go:
InputStream is = new ByteArrayInputStream( myString.getBytes() );
Update For multi-byte support use (thanks to Aaron Waibel's comment):
InputStream is = new ByteArrayInputStream(Charset.forName("UTF-16").encode(myString).array());
Please see ByteArrayInputStream manual.
It is safe to use a charset argument in String#getBytes(charset) method above.
After JDK 7+ you can use
java.nio.charset.StandardCharsets.UTF_16
instead of hardcoded encoding string:
InputStream is = new ByteArrayInputStream(StandardCharsets.UTF_16.encode(myString).array());