Yep it's disposable although you don't have to break it to get it out, just push the outside leg down so it's inline with the lower one and pull the pin out (upwards).
You can re-use but it's safer not to as talking them out will weaken them slightly and they cost peanuts from a car store in bulk.
A better option is to get the racing clips like i have on my rear wheel. They can be gotten from any auto parts store like repco, esp if they have a BLING section