iH8sn0w hackers released sn0wbreeze latest version called "sn0wbreeze v2.9". It can jailbreak your iPhone 4S and iPad 2 on iOS 5.0.1 easily.Below is the guide to install Cydia or Guide to jailbreak iOS 5.0.1 successfully.
1. Download Sn0wbreeze latest version - Click Here
2. After the download is complete, Browse your Firmware downloaded from Apple. It should be iOS 5.0.1 IPSW.
3. Now go to your desktop the Custom IPSW file must be there.
4. Put your device in DFU mode and Restore to custom IPSW from iTunes.
5. You're done now. You can find Cydia on your iPhone.
