PLEASE READ
Absinthe 2.0.2 Downloads Windows & Mac:
http://greenpoisonn.blogspot.com/2012/05/absinthe-20-has-arrived.html

IMPORTANT #1 If you are already on a tethered 5.1.1 jailbreak all you need to do is open up Cydia and search for Rocky Racoon this will untether your device.

#2 If you are experiencing any probs with the jailbreak restore your device to a fresh 5.1.1 firmware in iTunes do not resore from a back up now run the jailbreak.

Devices Supported For 5.1.1 Untethered Jailbreak

iPhone 3Gs
iPhone 4
iPhone 4S
iPad 1
iPad 2
iPad 3
iPod 3G
iPod 4G
AppleTV 2