This is a Video on how to jailbreak your IDevice running on IOS 5.1 using Redsn0w. This is a Tethered Jailbreak so you will need to boot with RedSn0w everytime you reboot your phone.
Step 1: Download the file i give to you and extract them, Open Redsn0w and plug in your IDevice in the off mode. Follow the Steps to put it into DFU mode. Hold down the Power button and Home button for about 3 seconds then release the Power button and continue to hold the Home button until your computer reads your device.
Step 2: Hit jailbreak and it will run and do its thing. After the jailbreaking is complete, it will now require you to put it back into DFU mode, then open up Redsn0w and hit Extras, Click Boot Tethered now and it will boot your phone.
Step 3: Set up Cydia as user and everything will be set.
Pretty simple but NOTE This is not for IPhone 4S or IPad 2