Those of you on iOS 5 beta 5 that aren't able to take advantage of Redsn0w for Mac users are in luck. Sn0wbreeze 2.8 beta 5 has been updated to support beta 5 for Windows users by its creator, iH8sn0w.
Sn0wbreeze will work to jailbreak the following devices on iOS 5 beta 5:
iPad 2 is not supported and it's also worth noting that this jailbreak is tethered.
Note: This version of Sn0wbreeze also allows non-developers to pass the UDID check and "hacktivate" their devices. It will also remove the "beta timer" Apple has so you won't be forced to upgrade or plug into iTunes if you don't update by Apple's beta deadlines. TiPb DOES NOT recommend anyone do this. iOS 5 is in beta for a reason -- it's not ready for mainstream use on your daily phone. It will frustrate you. Things won't work. Apps will crash or not function. If you're not a developer who needs to test iOS 5 SDK apps, or Jailbreak developer testing out next generation tweaks, you'll be happier if you stay away until the final version is ready.