Chronic Dev Team have just released Absinthe jailbreak tool that supports A5 devices. Here is a step by step guide on how to use Absinthe to jailbreak iPhone 4S 5.0.1 and iPad 2 5.0.1 build 9A405.
Here is the Absinthe Tutorial:
How to Jailbreak iPhone 4S 5.0.1, iPad 2 5.0.1 with Absinthe
Before you Begin:
Download Absinthe: Mac OS X: Absinthe-mac-0.2.zip Windows: Absinthe-mac-0.2.zip.
Step 1: Connect your device with the computer via USB.
Step 2: Extract the downloaded zip file and launch Absinthe.
Step 3: Click on “Jailbreak” to start the jailbreak process.
Step 4: Absinthe will start the jailbreak now. On your device, you will notice “Restoring in Progress” message.
Wait for jailbreak process to complete, it will take some time so be patient.
Step 5: Once done, you should be able to see Absinthe app installed on your device.
Step 6: Launch the Absinthe app from your device, it will load the greenpois0n website and will reboot.
Step 7: Once your device boots up again, you will see the Cydia icon.
That’s it! Launch Cydia and let the fun begin,