After the official release of iOS 4.2.1, iPhone Dev team has quickly released Redsn0w 0.9.6b4 to jailbreak the iDevices. The new Redsn0w tool is designed to support tethered jailbreak, which means you’ll have to follow the same jailbreak process on each reboot.
iPhone 3G and iPod Touch 2G (MC model) users can jailbreak their devices without any fear in mind as Redsn0w 0.9.6b4 provides tethered jailbreak on these devices. Here’s a quick guide to jailbreak your iPhone 4 with the Redsn0w tool.
Note: iPhone unlockers should stay away from iOS 4.2.1 update. The following guide can also be referred to jailbreak iPod Touch, iPad and other iPhone devices.
Guide to jailbreak iPhone 4 iOS 4.2.1 with Redsn0w 0.9.6b4
Requirements:
- iOS 4.2.1
- iTunes 10.1
- Redsn0w 0.9.6b4
Steps to follow:
1. Download iOS 4.2.1 from above link and install it on your iPhone 4. Keep the backup of your data on iTunes 10.1.
2. Open Redsn0w 0.9.6b4 tool and browse the downloaded iOS 4.2.1 firmware.

3. Click on ‘Next’ and select ‘Install Cydia’ on Redsn0w 0.9.6b4 tool. If needed, you can also check other option too.

4. Click ‘Next’. Now, make sure your iPhone 4 is both OFF and PLUGGED IN to the computer.

5. Click ‘Next’ and follow the instructions displayed on the tool. If you follow everything correctly, you will get following success message on your screen.

6. Done! Wait for Redsn0w to jailbreak your iPhone 4.
P.S. iPhone users should select ‘Just boot tethered right now’ option in the 3rd step to get SSH facility.
For Mac guide, head over to Redmond Pie.
