sjsharksipodtouch
This video tutorial will show you how to jailbreak and unlock your iPhone 4 or iPhone 3GS on firmware 5.0.1 using Redsn0w and Ultrasn0w. Redsn0w works on both PC and Mac. This is an untethered jailbreak and unlock.
Download Redsn0w for Mac: https://sites.google.com/a/iphone-dev.com/files/home/redsn0w_mac_0.9.10b3.zip?attredirects=0&d=1
Download iPhone 5.0.1 firmware: http://www.felixbruns.de/iPod/firmware/
Redsn0w will not upgrade your baseband.
Ultrasn0w unlocks iPhone 4 baseband 01.59.00 and the following iPhone 3GS basebands:
5.11.07
5.12.01
5.13.04
6.15.00
Note: sjsharksipodtouch is the original author of this video, we just embed it, if you have any questions please contact him via Youtube.