If you are new to this, TinyUmbrella or iSHSHit applications brings the aption to save the SHSH blobs before upgrading the new iOS. But if you are not satisfied with new iOS upgrade then these saved blobs will used to downgrade your iDevice iOS to an previous or older version. Today, NotCom, Developer behind TinyUmbrella has released an update to support iOS 5.0.1 Build 9A406. However, it is pertinent to mention here that currently there is no procedure available to downgrade an iPhone 4S as Apple has changed the way its signs firmware.
Although we cannot exploit/restore iPhone 4S SHSHs we still should save them just in case. I’ve just updated TU to support iPhone 4S 5.0.1b “9A406”.
However, if you want to downgrade from iOS 5 Beta and have your SHSH blobs avaiable for iOS 4 then follow the step-by-step guide to downgrade your iPhone, iPad or iPod Touch using TinyUmbrella 5.00.10
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You can also jailbreak iPhone, iPad or iPod touch on iOS 4.3.5 using RedSnow, iOS 4.3.3 using Redsn0w, JailbreakMe or to Jailbreak while preserving your baseband (software unlock) see TinyUmbrella, SnowBreeze & PwnageTool.