This jailbreak is a reincarnation of the Jailbreakme.com website serial jailbreakers will probably familiar with. It's the easiest and most user-friendly way to jailbreak your iPhone/iPad/iPod Touch since it doesn't require you to do anything fancy or technical.
Basically, if you are interested in jailbreaking your device, all you have to do is hop on your iDevice and navigate your way over to www.jailbreakme.com using mobile Safari and tap the "install button". The website uses a newly found PDF file exploit which allows them to install Cydia onto your device.
Once Cydia is installed, you can then use it to install any number of sweet tools and App-store rejects to your hearts content.