An untethered jailbreak for iOS devices with Apple A5 chips has finally been released. This means that you can now jailbreak your iPhone 4S or iPad 2 and the jailbreak will hold after reboot. The jailbreak has been in the works for awhile and the world has anxiously been waiting.

The Absinthe untethered jailbreak was released by the Chronic Dev Team thanks to the efforts of developer pod2g and a "dream team" of iOS hackers.

It's not a one click solution, but it works. For the full instructions, see the link below.