Finally, the fine folks of the iOS development underworld have a (mostly) stable jailbreak available for iOS 5.1.1. It’s working great on my iPad 2 – if you are already jailbroken on a tethered 5.1.x jailbreak you can download “Rocky Racoon” from Cydia to untether it. Download link below – get it while it’s hot!
Supported Devices: iPod touch, iPhone 4, iPhone 4S, iPad (including v3)
Via OSX Daily