Great news for the Jailbreaking community! Another jailbreaking is out in the market that can jailbreak iOS 5/iOS 5.0.1 tethered on OS X Snow Leopard and Lion! It’s called the Ac1dSnOw and it boasts of features like remote jailbreaking, custom firmware creation and iRecovery Remote.
Ac1dSn0w is quite similar to the Redsn0w and Sn0wbreeze tools in jailbreaking. You can’t jailbreak on iPad 2 and iPhone 4S but you can definitely jailbreak iOS 5.0.1 on iPhone 4, 3GS, iPad and iPod touch.Follow these steps and find out How To Jailbreak iOS 5.0 and how To Jailbreak iOS 5.0.1: