This way should cover a situation of concurrency when the function is called again while is still executing (and items need used only once):
while (list.Count > 0)
{
string Item = list[0];
list.RemoveAt(0);
// do here what you need to do with item
}
If the function get called while is still executing items will not reiterate from the first again as they get deleted as soon as they get used. Should not affect performance much for small lists.