Household Hacker has shared a nice video tutorial to Jailbreak your iPhone and iPod using JailbreakMe.com within few seconds and for free.

Follow these steps to Jail break:

• Visit: www.jailbreakme.com
• Use the slider on your gadget to start Jail breaking
• Allow the process to complete usually it takes few seconds)
• And you are done!

“OR”

Watch the video tutorial:

What is Jail break?

Jail breaking unlocks the operating system of the concerned gadget and enables you to install third party programs, themes and tweaks that are unapproved by Apple.

An important note from Jailbreakme.com

Don’t update past 4.0.1, the last firmware JailbreakMe supports. Secondly, and arguably most importantly, allow Cydia to “make your life easier”. This will allow you to always restore back to the latest firmware available when you select that option.