Redsn0w (Windows & Mac):
Devices Supported:
iPod touch 3G
iPod touch 4G
iPad 1
iPhone3GS
iPhone4 (GSM)
iPhone4 (CDMA)

Thing Youll Need:
redsn0w 0.9.8b5 for Mac or Windows
iOS 5.0 beta 5 IPSW get it here.
(Optional) iTunes 10.5 beta 5 get it here.



Steps:
1. Right click Redsn0w and set compatibility to windows XP (service pack 2) if you are on Windows 7 or Windows Vista and run as administrator.

2. Connect your iDevice to the Computer and turn it off; after you have done this run Redsn0w (If it isnt already connected).

3. Make sure your firmware is somewhere you will have no trouble finding it, preferably your desktop. Browse for your 5.0 beta 5 firmware in Redsn0w and select it.

4. Click next and then check install Cydia only (if it is already checked then leave it).

5. Click next and follow the on screen instructions to put you device in DFU mode. The steps are as follows:

I. Hold down the power button for 3 seconds
II. Continue holding the power button and start holding the home button and continue HOLDING BOTH for 10 seconds
III. Let go of power and continue holding home button for 20 seconds (or until Redsn0w starts the jailbreaking process).

6. Wait for it to finish.

7. After it is finished run Redsn0w again.

8. Browse for your 5.0 beta 5 firmware in Redsn0w and select it.

9. Click next and then check Just boot tethered right now.

10. Click next and follow the on screen instructions to put you device in DFU mode.

11. Wait for it too finish.

12. You are now jailbroken, may the jailbreak force be with you!