Here are step-by-step tutorials that will guide you through all the process of jailbreaking iOS 5.1 and iOS 5.0.1 with sn0wbreeze, redsn0w, pwnagetool and absenthe:
If for some reason you don’t want to use to jailbreak your iOS 5, here is a good alternative utility – Sn0wBreeze 2.8b8. It can perform a tethered jailbreak for iPhone 3GS, iPhone 4, iPad 1, iPod Touch 3G and iPod Touch 4G.
As usual it will preserve your baseband (modem) version for unlock with or Gevey Sim.
You can download Sn0wBreeze 2.8b8 .
UPDATE: Sn0wBreeze 2.8b8 step-by-step jailbreak and unlock tutorials:
iH8sn0w released a new version of Sn0wbreeze, the Windows tool that allows to jailbreak the newest firmware 3.1.3. This is a small update that addresses several problems with YouTube.
You can download the new version of sn0wbreeze .
We still recommend to use DevTeam utilities – redsn0w (Windows and MAC OS) and pwnagetool (MAC OS only).