Recently iPhone Dev Team release Redsn0w 0.9.12b1 update to jailbreak iOS 5.1.1 Untethered. The Redsn0w 0.9.12b1 supports iPhone 4, iPhone 3GS, iPad 1, iPad 2, iPad 3, iPod Touch 3G & iPod Touch 4G.
iPhone Dev Team added new features in Redsn0w 0.9.12b1 Jailbreak tool Specifically for those who got in on the SAM Unlock. With the Redsn0w 0.9.12b1 update you can include your SAM Tickets as part of your initial RAM Disk jailbreak of iPhone 4. In sort Redsn0w 0.9.12b1 covers everything from iOS 5.1.1 all the way back to iOS 4.1.
Today iPhone Dev also released PwnageTool 5.1.1, cinject 0.5.4 & Ultrasn0w 1.2.7 to unlock iOS 5.1.1.
Download Redsn0w 0.9.12b1 :
Ultrasn0w 1.2.7 (From Cydia)
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