Updated to Beta2
After iPhone Dev Team and Chronic Dev Team, Pwn Dev Team jumps into jailbreak field and released its first tool “Ac1dsn0w” to jailbreak iOS 5.0.1 and iOS 5.0. Just like Redsn0w and Sn0wbreeze, the new jailbreak tool “Ac1dsn0w” provides tethered jailbreak on iPhone 4, iPhone 3GS, iPod Touch 4G and iPad 1. However, PwnDevTeam promised to incorporate in it more features like remote jailbreak, iRecovery remote, custom firmware creation.

The how-to-jailbreak-with-acidsnow guide is apparently similar to the how-to guide of any other jailbreak tool. After restoring to fresh iOS 5.0.1 firmware, you have to put the device into DFU mode and let the tool perform rest of work. If you are new to jailbreak field, here is the step by step method.
Step 1: Download Ac1dSn0w.
Step 2: Launch it and you’ll see the following options as shown in the screenshot embedded below.

- Jailbreak: to jailbreak the deivce
- Tethered boot: to boot the device into jailbroken and to pass the Apple logo
- Pwned DFU Mode: to put the device into DFU mode
- Exit Recovery: to get your device out of recovery loop
- Show console: shows the information related to device like IMEI number, serial number, current baseband, bootloader, firmware etc
- Show Assistant: help you to put your device into DFU mode.
Step 3: Now switch off you device and connect it with PC using data cable.
Step 4: Check the “Show Assistant” option and put your device into DFU mode.

Change log :
- Fixed legal issue
- Fixed problems with ramdisk (black screen)
- Removed boot logo
Download Ac1dsn0w Beta 2
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I JBd, I rebooted and entered in Cydia. After a reboot from Cydia, the phone sticks on the Apple logo screen. How can I solve it?
u r dumb, thats why it is called a tethered jb, because u have to re-jb everytime u reboot ur device
I tried to open it (zip file) but it never came out as an application. Just a bunch of pics. HELP ME IVE TRIED SO MANY JAILBREAKS
download redsn0w 0.9.10b3 for mac and use it