Please read the entire article and make sure you have everything you need at hand
Part 1: Download all the necessary files.
Download 1: PwnageTool 4.3.4 for Mac OS.
Download 2: iOS 4.3.4 firmware for:
Download 3: iTunes 10.3.1
Download 4: PwnageTool 4.3.4
Part 2: How to create custom ipsw with PwnageTool step by step.
Extract the Pwnage Tool Bundle and move the .bundle file for your device to your desktop.
Copy the PwnageTool 4.3.4 to the /Applications directory. Right click and select “Show Package Contents”
Paste the .bundle file in to the folder Contents/Resources/FirmwareBundles
Start PwnageTool in “Expert mode” and select your device.
Browse for iOS 4.3.4 firmware.
Now select “Build” to start creating your custom 4.3.2 firmware ipsw file(For unlockers: if you want to preserve your old baseband to unlock with Ultrasnow, make sure you check “Activate the phone” option which is found under “General”)
Wait for PwnageTool to build the custom .ipsw file.
Follow the on screen instructions to enter in DFU mode.
Part 3: Flash your firmware in iTunes
Start iTunes
Select your device from the sidebar
Press and hold left “alt” button on Mac and click on “Restore” (Not “Update” or “Check for Update”) and release the button.
Select the custom .ipsw file that was just created when prompted by iTunes to select the location for your custom 4.3.4 file.
Wait until the process is complete and enjoy your jailbroken 4.3.4 iDevice!
Part 4: Perform a Tethered Boot
Download tetheredboot.zip utility for MAC OS X and extract the .zip file can copy it into a new folder on the desktop call tetheredboot.
Copy the custom iOS 4.3.4 file that was created above and change the extension of the file from .ipsw to .zip and extract the .zip file.
Copy kernelcache.release.n90 and iBSS.n90ap.RELEASE.dfufiles from /Firmware/dfu/ to the tetheredboot folder on the desktop.
Turn-off your iDevice, start terminal on Mac OS X, and type sudo –s
Enter your administrator password
Enter the path to the 3 files above (tetheredboot, kernelcache.release.n90, and iBSS.n90ap.RELEASE.dfufiles). Press enter after entering each path.
Follow on-screen instructions to enter DFU mode
Wait for device to boot and “Exiting libpoi0n” message on terminal.
Finally, enjoy your jailbroken device.
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