We finally got an untethered jailbreak for iPhone 4S and iPad 2 yesterday via Greenpois0n Absinthe. Until now the tool was only released for Mac users. It has now been updated with support for Windows users.
If you're running Windows, you can now jailbreak your iPhone 4S or iPad 2 on iOS 5.0 or iOS 5.0.1. The Dev Team has issued an update to redsn0w that adds support. This process isn't as easy as a simple one click tool like Greenpois0n Absinthe but if you absolutely can't wait any longer to jailbreak, we've got you covered.
Ac1dSn0w is a newly released jailbreak tool that'll allow you to tethered jailbreak your device (no iPhone 4S or iPad 2 support). So if RedSn0w is giving you issues, you may want to give Ac1dSn0w a try. If you've used RedSn0w in the past and you're more comfortable using it instead, you can of course tethered jailbreak iOS 5.0 and 5.0.1 via RedSn0w as well. Windows users will need to use RedSn0w as Ac1dSn0w only currently supports Mac.
I’m pleased to announce that we’ve just released Beta 1 of Ac1dSn0w for Mac OS X Lion (should also work on Snow Leopard). Ac1dSn0w allows you to jailbreak your iDevice tethered. It also provides features like Tethered Boot, Pwned DFU, and Exit Recovery to get your device out of Recovery Loop.