iOS 8.1.1 has only been available for a few short weeks, but TaiG, a Chinese outfit, has released an untethered jailbreak for all devices running iOS 8 up to the latest version.
TaiG is only available for Windows at the moment, and is not localized to English just yet, but its one-click install method is fairly straightforward. Like all jailbreaks of note, it can install Cydia to access your favourite repos. The instructions are fairly easy, as per Cult of Mac.
“For the device you intend to jailbreak, turn off ‘Find My iPhone’ and disable your passcode under ‘Settings’, then enable AirPlane mode. Plug your device into your computer, and when TaiG recognizes your device, uncheck the second box (the one that doesn’t say Cydia) and hit the green button. When you see the smiley face, your jailbreak is done!”
The need to jailbreak, however enticing, has diminished over the past few years, as features, formerly marginalized, have been added to iOS proper. At last call, iOS 8 was running on 60% of total iDevices.