Jailbreaking on the iOS 5 beta is done at your own risk. Be aware of the consequences and risks of jailbreaking on an iOS beta.

MuscleNerd (@MuscleNerd) tweeted out that the iPhone Dev-Team has released an updated version (0.9.8b5) of redsn0w for iOS 5 Beta 5.

Note: This jailbreak does not work with the iPad 2 or any devices that are jailbroken with a non-bootrom jailbreak.

redsn0w 0.9.8 b5(Mac)
redsn0w 0.9.8 b5(Windows)