Warning: Backup of your iPad 2 through iTunes before proceeding, because you may lose Camera Roll during this process.
Untethered Jailbreak iPad 2 over iOS 5.0.1 with Absinthe
Download Absinthe, extract its contents and double click “Absinthe” app icon to launch it
Connect your iPad 2 to computer through USB
Click on “Jailbreak” button
Absinthe will take you through several steps of the jailbreak process, so don’t worry and just pass those patiently like the Initial data sending, Restoring in progress, iPad 2 reboot, Wait to finish booting, Preparing jailbreak data, and Sending payload data
“Almost done” message will display on Absinthe screen
On Homescreen of your iPad 2, locate Absinthe icon and tap on that
If you find an error message because of server down, then tap on “Settings” app on home screen of your iPad 2 and turn on VPN
Configuration error message will display, but wait for a minute and your iPad 2 will reboot
“Cydia” will display on your iPad 2 home screen and done.