By A.F. at Tuesday, July 12, 2011  

Update 1: iOS 5 Final version has been released for Download and Jailbreak - Click Here

iH8sn0w, the developer of the unofficial pwnagetool for Windows, has now released Sn0wbreeze 2.8b4 with added support for the latest iOS 5 beta 3 for iPhone, iPad and iPod touch.

Sn0wbreeze 2.8b4 will jailbreak iOS 5 beta 3 tethered on iPhone 3GS [new bootrom], iPhone 4 GSM, CDMA, iPod touch 3G, 4G and the first generation iPad. Sn0wbreeze 2.8b4 only jailbreak the iPhone 3GS [old bootrom] untethered on iOS 5 beta 3. This beta of sn0wbreeze is intended for developers only and Hacktivation has also been disabled.

Full changelog embedded below:

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sn0wbreeze v2.8b4 -- For iOS 5.0 b3(9A5259f)
---------------------------------------------
* Intended only for developers (as usual).
* Hacktivation is disabled (again).
* MAKE SURE YOU UPDATE TO iTunes 10.5 BETA 3!
---------------------------------------------
Supported Devices/Tethered?
---------------------------------------------
iPhone 3G[S] (old bootrom) [UNTETHERED]
iPhone 3G[S] (new bootrom) [TETHERED]
iPhone 4 (GSM) [TETHERED]
iPhone 4 (CDMA) [TETHERED]
iPod Touch 3G [TETHERED]
iPod Touch 4 [TETHERED]
iPad 1G [TETHERED]
---------------------------------------------
Those wondering, the jailbreakme exploit
cannot be integrated into applications
such as PwnageTool/redsn0w/sn0wbreeze.
---------------------------------------------
redsn0w seems to be having sandbox errors
due to it using the old b1 kernel.
I and many others have not seen any issues
with sn0wbreeze related to AppStore apps.
If you prefer to use redsn0w, I am sure
@MuscleNerd is working on a fix.

Please remember that this is a tethered jailbreak, and will require you to connect the device to a computer every time you boot up.

Download iOS 5 beta 3 for iPhone, iPad and iPod touch
Download Sn0wbreeze 2.8b4