Intelliborn’s popular jailbreak tethering app MyWi was recently updated to bring full compatibility for iOS 5. MyWi can be used to create a wireless access point or a bluetooth or cable connection to share your iPhone’s 3G connection with other devices.
Those that do not currently own MyWi can install a free 3-day trial through Cydia, after which the app can be purchased for a one-time cost of $19.99. Carriers typically frown on unauthorized tethering methods like these, so those of you that are heave data users should use caution.