iOS 4.3.2 has been jailbroken already, just hours after its release.
The Redmond Pie website reports that the latest update for iOS was successfully jailbroken using custom PwnageTool bundles.
At the moment, it is a tethered jailbreak, meaning you'll have to tether your iOS device to your Mac every time you reboot.
Currently the jailbreak works for the iPhone 4, the iPad and the third and fourth generation iPod touch. Support for the iPhone 3GS is on the way, we're told. iPad 2 owners are warned to steer clear of the jailbreak for the moment. Anyone with an iPhone 4 that is not locked to a mobile network is also warned not to use it.
You'll require PwnageTool 4.3, the iOS 4.3.2 firmware, iTunes 10.2.1, Mac OS X and the PwnageTool bundle for iOS 4.3.2 for a successful jailbreak, and you can find step-by-step instructions on the Redmond Pie site.
iOS 4.3.2 was released late on Thursday and fixes the FaceTime 'frozen image' issue. You can download the update by connecting your device to your Mac or Windows PC and using iTunes to check for updates.