Finally it is here, the jailbreak for A5 5.0.1 devices that we have been waiting for all this time! I done this jailbreak personally yesturday on my iPhone 4s and came accross a few problems but all were solved and now the jailbreak is working perfectly. I’m going to guide you through a few steps but before I do please read below

READ ME FIRST
This is for Mac computers only at the minute as the Windows version is currently in progress Windows Download Now Availible Here
Back Up you iPhone or iPad with iCloud (in settings>icloud) or iTunes. This is very important as it has the possibility to lose items, I somehow managed to lose all my photos but I backed them up
We do not take any responsibility for what you do on your iPhone we are simply guiding you the process I followed

untethered jailbreak for the following devices and firmwares:

iPhone 4S running iOS 5.0, 5.0.1 (9A405 and 9A406)
iPad 2 Wifi/GSM/CDMA running iOS 5.0.1

Step 1
Download and Install Absinthe for Mac

Step 2
Remove your keylock if you have one, Connect your iPhone or iPad to the computer via your USB cable and open up Absinthe

Step 3
Wait for Absinthe to come up with the iPhone or iPad details
Now before you press jailbreak make sure you have backed everything up, unlock your iPhone or iPad so you are on the home screen
Now hit Jailbreak…. It will come up “beginning jailbreak, this may take a while” and believe me it wil take some time, when I first done this it crashed and stayed on this for around 30 mins. If the same happens to you close absinthe and begin again.
If it goes past the beginnning jailbreak stage then you will come onto the “restoring in progress” it is very important you do not use or unplug your phone at this stage as it is restoring your device with a jailbroken firmware.

Step 4
Once Absinthe tells you it has completed and your device has finished go onto the home screen and there should be an icon saying Absinthe. Hit the Absinthe icon and it will then open a page and restart your iPhone or iPad (If you get stuck on a white screen press the home button, go into settings and turn on VPN, wait for your device to turn off and turn back on and now try pressing the absinthe icon again). Once restarted you should now have the Cydia icon instead of the Absinthe icon and a jailbroken device

Troubleshooting:

Remain patient, this is not the quickest jailbreak and some phones with lots of app and photos can take upto 45 minutes

If stuck on the white screen re-read step 4 and turn on VPN and wait for the device to reboot

Never disconnect the device until you are 100% sure it has finished and Absinthe has told you it has completed

If it still does not work restore your device through iTunes or iCloud and start again, I myself had to do this and I cant stress enough how important it is to back your device up first!