This jailbreak only supports firmware 5.11 and then again this is the easiest jailbreak method is used (when compared to jailbreakme.com)
Press release

Device is supported:

Iphone:
iPhone2, 1 to 3.1 – 3.3 to 4.1
5.1.1 (3G): iPhone2, 1_5.1.1_9B206_Restore.ipsw
5.1.1 (4 GSM): iPhone3, 1_5.1.1_9B206_Restore.ipsw
5.1.1 (4 GSM Build 9B208): iPhone3, 1_5.1.1_9B208_Restore.ipsw
5.1.1 (4 CDMA): iPhone3, 3_5.1.1_9B206_Restore.ipsw
5.1.1 (4S): iPhone4, 1_5.1.1_9B206_Restore.ipsw
Can be downloaded here

iPad:
iPad1, 1 – 2.1 to 2.2 – 2.3 to 3.1 – 3.2 to 3.3
5.1.1 (iPad 1): iPad1, 1_5.1.1_9B206_Restore.ipsw
5.1.1 (iPad 2 Wi-Fi): iPad2, 1_5.1.1_9B206_Restore.ipsw
5.1.1 (2 iPad GSM): iPad2, 2_5.1.1_9B206_Restore.ipsw
5.1.1 (2 iPad CDMA): iPad2, 3_5.1.1_9B206_Restore.ipsw
5.1.1 (3 iPad Wi-Fi): iPad3, 1_5.1.1_9B206_Restore.ipsw
5.1.1 (3 iPad CDMA): iPad3, 2_5.1.1_9B206_Restore.ipsw
5.1.1 (3 iPad GSM): iPad3, 3_5.1.1_9B206_Restore.ipsw
Can be downloaded here

iPod:
iPod3, 1 to 4.1
5.1.1 (3G): iPod3, 1_5.1.1_9B206_Restore.ipsw
5.1.1 (4G): iPod4, 1_5.1.1_9B206_Restore.ipsw
Can be downloaded here

(Support for iPad2, 4 will be added at a later date) Now, with the 2:04 version is supported
5.1.1 (iPad 2 New): iPad2, 4_5.1.1_9B206_Restore.ipsw
Download here

Download Absinthe 2:04
Absinthe v2.0.4 MacOSX (10.5, 10.6, 10.7)
Absinthe Windows v2.0.4 (XP/Vista/Win7)
Absinthe v2.0.4 Linux (x86/x86_64)

How to use:
A. Backup device with iTunes (right click on the name of the device and then click back up)
2. After the backup process is complete, go to Settings Menu on your device, select General – Reset – Erase all Content and Settings. This method can make the jailbreak process becomes faster.
3. Call Absinthe with a device connected to the computer via USB cable.
4. Click the “jailbreak” and wait .. wait to finish and do not disconnect your device until it is complete.
5. Once your device successfully terjailbreak, restorelah your device as usual from iTunes. (Right-click the device name and click “restore from backup Up” select the last backup’s.
6. Do not forget to do the Post-Jailbrek here:
7. JB Enjoy your device. Remember though the Jailbreak Legal, still appreciate the work of develepor.