Great news for all you jailbreakers, Absinthe 2.0 has been released by the Chronic Dev Team and iPhone Dev Teams. This software will allow you to jailbreak your iOS device with the firmware version 5.1.1! Absinthe 2.0 officially supports the following on iOS 5.1.1: iPhone 3GS, 4, 4S, iPad 2 and iPad 3! Follow the steps below to get started!
Step 1) Make a backup of your iOS device using iTunes by plugging it in, selecting it under devices and pressing "Back up."
Step 2) Now, on your iOS device, go to Settings > General > Reset > Erase All Content and Settings (Don't worry, you'll get all your data back as soon as the jailbreak is done. This step is to make the jailbreak go faster!)
Step 3) Download Absinthe from one of the following locations:
Step 4) Open Absinthe with your iOS device still plugged in via USB.
Step 5) Click the "Jailbreak" button. (Folks, it can not get easier than this.)
Step 6) Once the jailbreak has finished completely, go back to iTunes and restore your device from the backup that you made earlier. To do this, right click on your device in iTunes and click "Restore from backup" (See how much faster this was? Trust me on this one.)
You are now jailbroken on iOS 5.1.1! Congratulations! If you have any questions about the process, please ask them in the comments below.