There is a jailbreak but it is not available to the public yet.
when do you think they will make it available for the public?
That's false information it's not available yet even for devs. Shoulda got a iPod touch 4 for jail breaking
will become available soon i guess. Nah, i upgraded from a iPod Touch 3G to a 5G, that's why i didn't go for the 4G
Why do you need a jailbreak on an iPod Touch?
According to some sites and Twitter feeds from the DevTeam rumor has it the jailbreak will be out in the next week or two.