iPhone 1.1.1 Firmware? You're all set, Mr. Hacker
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Biggs has written for the New York Times, InSync, USA Weekend, Popular Mechanics, Popular Science, Money and a number of other outlets on technology and wristwatches. He is the former editor-in-chief of Gizmodo.com and lives in Bay Ridge, Brooklyn. You can Tweet him here and G+ him here. Email him directly at john@techcrunch.com. → Learn More

To jailbreak your 1.1.1 firmware iPhone or Touch, begin by gathering the following tools:
A screwdriver
A putty knife
That blue stuff barbers put their combs in
Pop Rocks
A couple in 18th-century ball garb
2 cans of Lestoil
A sense of wonder
The tail of a gilded Tibetan Wombeast
Step 1 – Point your Safari browser on the Touch or iPhone to http://www.jailbreakme.com.
Step 2 – Wait.
Step 3 – Run third-party apps on your newly jailbroken iPhone or Touch. If this works, skip Step 4 and 5.
Step 4 – Remove clothing. Cover self in Lestoil (warning: may sting). Place Wombeast tail between buttocks. Marvel at couple with sense of wonder. Eat Pop Rocks. Drink blue stuff. Throw putty knife into the mouth of the Hudson River. Eat screwdriver.
Step 5 – Repeat.
Instant Jailbreak for iPhone and iPod touch [TUAW]