I know everyone wants to make there iPhone, iPod, or iPad better. Jailbreaking, in my opinion, does just that. Sometimes you may notice some apps may be slower, but overall, it's worth it!
Watch This Video:
How To: Jailbreak iOS 5.0.1 – Tethered
If you still don't understand follow these instructions.
First, download you iOS 5.0 firmware. Save it to your Desktop!
Next, download RedSn0w 0.0.9.9b8. Also, save it to your Desktop. You may have to extract it, if so extract it to your Desktop.
Once it is all extracted and downloaded, connect your Apple iDevice.
1. Open RedSn0w 0.9.9b8.
2. Click Extras
3. Click Select IPSW's
4. Find your Firmware you download (Should be on your Desktop!)
5. Then, click < Back
6. Click Jailbreak
7. Now Follow the on-screen instructions. It should now be jailbroken, but you are not finished!
8. Back in RedSn0w, click Extras
9. Click Select IPSW's (Do the same thing as before.)
10. Then, go up to Just Boot (Click it), and follow on-screen instructions. (If done correctly you should see a Pineapple instead of the Apple Logo.)
*Note- If you turn off your iDevice, you have to start from Step 8 in order to make your phone operational again.*
In Cydia, wait for it to Prepare File System then select who you are.