Here's the release note of Updated TinyUmbrella: [Read Carefully]
Even though there is still no working solution for restoring 5.x on iPhone 4S I have released a 5.01.00 so you can at least save 5.0.1 SHSH. I have added tentative support for at least saving 5.0.1 SHSHs for iPhone 4S but as of now we are unable to use them fully.This means for now you can just save SHSH Blobs for iOS 5.0.1 and you won't be able to downgrade. So if you save the SHSH Blobs for now, In future you'll be able to downgrade to iOS 5.0.1(If Restoration method is discovered).
As soon as more information is available I will update.
Download Links for TinyUmbrella v5.01.00:
How to: Save SHSH Blobs for iOS 5.0.1 using TinyUmbrella
Step 2: Run the TinyUmbrella.
(Mac users: Copy the app to your desktop or you’ll get repeating password prompts if you ran the app from within the DMG).
Step 3: Now Connect your iPhone 4/4S, iPhone 3GS, iPod Touch 4G, iPad to your computer. TinyUmbrella will detect your iDevice.
- Make Sure iTunes is closed
- Now Simply Hit the Save SHSH button at Top-Right side of the window.
TinyUmbrella will save SHSH blobs of the latest firmware + all those blobs that you had saved for older firmwares (if any) on Cydia server. This will also generate a ticket to save SHSH blobs for the latest firmware to Cydia server.
Step 5: All Done! You have secured your future jailbreak by saving SHSH blobs for iOS 4.3.3 using TinyUmbrella. You can find the saved SHSH file directory under advanced Tab on TinyUmbrella and Cydia will also display your Saved SHSH blobs/status pending.