How To: Jailbreak iOS 5.0.1 On iPod Touch 4G, iPod Touch 3G With RedSn0w 0.9.9b9 [Mac OS X] - RedSn0w 0.9.9b9 iOS 5.0.1 Jailbreak
Step 1: Download RedSn0w 0.9.9b9 for the Mac operating system using the download mirror below or through the iJailbreak Downloads Section.
Step 2: Once you have downloaded RedSn0w 0.9.9b9 you will need to launch it by double clicking on the redsn0w app.
Step 3: With RedSn0w 0.9.9b9 running you will need to click the Jailbreak Button.
The Dev-Team finally released a much needed update for RedSn0w, dubbed RedSn0w 0.9.9 beta 9 that allows users to Jailbreak the iOS 5.0.1 firmware, without having to first point RedSn0w to the iOS 5.0 firmware. This new version of RedSn0w additionally will fix the iBooks crashing error on Jailbroken iOS 5.o/iOS 5.0.1 iDevices, along with other bug fixes that increase the stability of Jailbreaking on the iOS 5 firmware generation.As the Jailbreaking process has changed while using RedSn0w 0.9.9b9, we will be covering how to Jailbreak tethered your iPod Touch 4G and iPod Touch 3G running the iOS 5.0.1 firmware using RedSn0w 0.9.9b9 on the Mac OS X operating system.
Details and Continue Read from Original Sources Here!