Jailbreak IOS 8 or 8.1

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Jailbreaking is the process of removing limitations on iOS, Apple's operating system on devices running it through the use of software and hardware exploits; such devices include the iPhone, iPod touch, iPad, and second-generation Apple TV. Jailbreaking permits root access to the iOS file system and manager, allowing the download of additional applications, extensions, and themes that are unavailable through the official Apple App Store.
Jailbreaking is a form of privilege escalation,and the term has been used to describe privilege escalation on devices by other manufacturers as well. The name refers to breaking the device out of its "jail", which is a technical term used in Unix-style systems, for example in the term "FreeBSD jail". A jailbroken iPhone, iPod touch, or iPad running iOS can still use the App Store, iTunes, and other normal functions, such as making telephone calls.
Pangu Jailbreaker:

So how to Jailbreak the new IOS 8 and 8.1....  To jailbreak your IOS 8 or 8.1 device you have to download the Pangu jailbreaker. Recently Pangu Team has released an updated version of its untether for the iOS 8.0 - 8.1 jailbreak, fixing an issue which could cause your device to overheat due to excessive CPU usage.