JailbreakMe 2.0 is the name of the new jailbreak tool which uses the userland jailbreak method to jailbreak the iPhone 4, iPhone 3GS, iPhone 3G on iOS 4.0/4.0.1.

It can also be used to jailbreak the iPad on iOS 3.2.1.

Image Credit: Redmondpie.com

It is a browse based jailbreak, all that you have to do is go to the http://jailbreakme.com site from your iOS device, preferably over a wifi session. We must  warn you though that at this time users are reporting that the jailbreak is breaking the Facetime and MMS functionalities. As you might expect, the servers are jammed right now, but keep trying, you will successfully load the page after a couple or more reloads. Watch this space on more guides on how to unlock your iDevices. The list of supported devices is as follows:

iPod 1G on 3.1.2
iPod 1G on 3.1.3
iPod 2G on 3.1.2
iPod 2G on 3.1.3
iPod 2G on 4.0
iPod 3G on 3.1.2
iPod 3G on 3.1.3
iPod 3G on 4.0
iPad on 3.2
iPad on 3.2.1
iPhone 3G on 3.1.2
iPhone 3G on 3.1.3
iPhone 3G on 4.0
iPhone 3G on 4.0.1
iPhone 3G[S] on 3.1.2
iPhone 3G[S] on 3.1.3
iPhone 3G[S] on 4.0
iPhone 3G[S] on 4.0.1
iPhone 4 on 4.0
iPhone 4 on 4.0.1

Here’s the video demonstration of JailbreakMe 2.0 on iPhone 4:

and here’s another demonstration of JailbreakMe 2.0 on iPhone 3G: