That didn't take long. Apple sent out iOS 5 beta 3 yesterday, and now a sn0wbreeze update has already jailbroken the beta.
It's a tethered jailbreak (requires a Windows machine, in fact) and if you happen to be the type of person who just doesn't feel right without a jailbroken iOS device, you can download sn0wbreeze 2.8b4 and go to town.
Engadg