MuscleNerd has tweeted that iPhone Dev Team has managed iPhone 4S and iPad 2 jailbreak over iOS 5. He has also shared some photos of jailbroken iPhone 4S running Cydia and a video of jailbroken iPad 2.
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“VERY preliminary 4S JB: http://twitpic.com/76vcp4 http://twitpic.com/76vct2 (Huge missing pieces prevent public release. LOTS of work left)”
No words are spoken either it would be a tethered or untethered iPhone 4S and iPad 2 jailbreak, and it is also not disclosed when it will reach to users.
Jailbroken iPhone 4S Photos
Jailbroken iPad 2 Video Demo