Some of the top iOS hackers have announced that the great white whale of jailbreaking is about to go down: they’ve successfully jailbroken both the iPad 2 and iPhone 4S.
Update: The Chronic Dev Team has released GreenPois0n Absinthe, which you can now use to jailbreak the iPhone 4S or iPad 2.
Apple’s two latest iOS devices use the dual core Apple A5 processor and aren’t vulnerable to the same tools used to jailbreak earlier devices — but a new exploit has been discovered that will jailbreak those devices.
Hacker pod2g and the folks at the iPhone Dev Team and Chronic Dev Team are working out the last few bugs, but they each plan to release tools that will allow users to perform an untethered jailbreak on the iPhone 4S or iPad 2 soon.
Jailbreaking an iOS device allows you to install third party apps that aren’t available from the App Store or make other changes to the look and feel of the device by accessing files and settings that are normally hidden from end users.
This will be an untethered jailbreak, which means you’ll be able to reboot your device without connecting it to a computer with a USB cable.
Chronic Dev will release a tool with a graphical user interface which you can run on a PC or Mac to jailbreak the devices. The iPhone Dev Team will eventually incorporate the ability to jailbreak devices with A5 chips into its popular redsn0w jailbreak utility, but first iPhone Dev will release a command-line utility that walks you through the process one step at a time. This will help diagnose any problems users are having.
The jailbreak will work on iPad 2 models running iOS 5.0.1 and iPhone 4S devices running iOS 5.0 or iOS 5.0.1. If you’re hoping to carrier unlock an iPhone 4S you should stick with iOS 5.0.
heres a link of how to do it New
I found a great article that provides a step-by-step method to jailbreak an iPhone 4s or iPad 2. check it out here http://imbyter.com/2012/01/how-to-jailbreak-iphone-4s-and-ipad-2-running-ios-5-0-and-5-0-1/