Now You Can Jailbreak Your iPhone 5 And iPad Mini
Keep your eye on that Twitter account for more updates on how to get the jailbreak.
Jailbreaking your phone gives you access to a special app store called Cydia that's full of apps that Apple wouldn't normally approve. You also get more customization options and settings.
Update: The jailbreak for the latest version of iOS, version 6.1, is live now. That means you can jailbreak your iPhone 5 and iPad Mini.
You can head to a jailbreaking site called evasi0on to try it.