This new version of RedSn0w makes jailbreaking a lot easier, as you do not have to point to a firmware anymore. The supported devices are the same as they have been for a 5.0.1 jailbreak: iPhone 3GS, iPhone 4, iPod Touch 3G, iPod Touch 4G, and iPad 1. Let’s get right into it.
Step 1: Download RedSn0w 0.9.9b9 & run it
Step 2: Click “Jailbreak”
Step 3: Put your device into DFU mode
Step 4: Check “Install Cydia” when prompted, as shown in the video
Step 5: After it boots up, put your device back into DFU mode
Step 6: In RedSn0w, click “Extras” then “Just Boot”
Congratulations, you are now jailbroken! You will need to run Cydia and let it update all the files. If you have a white cydia icon, try to boot tethered again or just respring.